After being nestled away under LifeOmic’s belt for nearly two years, JupiterOne is ready to show the world that it means business.
The Morrisville-based startup just landed a $19 million investment led by Bain Capital in its Series A funding round, and they’re not planning on slowing down.
JupiterOne focuses on cybersecurity asset management, and already has companies like Reddit on board as customers.
Unlike its competitors, JupiterOne focuses on not just the discovery of assets and resources, but also on mapping out the connections and relationships as well to give organizations the full picture. The product also doesn’t require a separate software agent to deploy before use. It’s as easy and fast as signing up for a Gmail account, said JupiterOne CEO and Founder Erkang Zheng.
In addition to the $19 million, JupiterOne is also gaining Enrique Salem, a partner at Bain Capital and former CEO of Symantec, as a board member.
Before founding JupiterOne, Zheng worked for companies like IBM and Fidelity Investments before becoming the head of cybersecurity for LifeOmic. The Indianapolis-based LifeOmic, which also has a Morrisville office, is a software company for healthcare providers.
When first building JupiterOne, Zheng took an engineering-focused approach. He wanted to consolidate from different sources and provide visibility to operations using data and automation. Then, the team built a graph knowledge base, which is essentially like having a Google to describe your security and compliance operations.
Having the “Google” capability is what really sets them apart from competitors, said Tyler Shields, JupiterOne’s CMO. Being able to ask a question and have an answer come back immediately when you have millions of assets is, in his words, “pretty awesome.”
Right now, the company has 20 full-time employees, but it’s still in the rapid growth phase. There’s at least 10 openings currently, and by this time next year the company will likely have doubled in size.
In terms of the investment, that money will be well-spent, Shields and Zheng said.
“We’re putting that capital to work and growing the business rapidly on resource growth, infrastructure growth and the hiring growth—both on sales and marketing and the engineering side of the business,” Shields said.
In the future, expect additional product capabilities and features from JupiterOne.
Oh, and the best part about the startup? JupiterOne is planning to stick to its roots and stay in the Triangle area.