Channel Brief: ZEST, Dazz Raise Funds for Cloud Risk Remediation, MSPs Rapidly Adopting Kaseya 365

Good morning, folks.

Apparently, cloud risk remediation is a trending, hot topic -- we have two news announcements related to cloud risk remediation for you today: ZEST Security and Dazz both have funding announcements related to their cloud risk remediation solutions. You heard it here first!

Since the announcement of its Kaseya 365 subscription in April, Kaseya has seen remarkable adoption. The company said more than 4,000 MSPs now rely on Kaseya 365 to manage, secure, backup and automate more than 5 million endpoints. MSPs are seeing their profits grow 30-50% higher, but they no longer have to make hard decisions about what technology to include for their customers based on cost. In fact, for the thousands of MSPs who have signed on, the total cost savings already totals $400 million annually.

Trust management, security and compliance automation startup Vanta also raised some capital, and, in other news, Check Point has found its new CEO.

As always, drop me a line at [email protected] if you have news to share or want to say hi!

Grab your coffee. Here's what you need to know today.

Today’s Tech, Channel and MSP News

1. MSPs Racing to Adopt Kaseya 365: Since the announcement of its Kaseya 365 subscription in April, Kaseya has seen remarkable adoption of the platform. The company said more than 4,000 MSPs now rely on Kaseya 365 to manage, secure, backup and automate more than 5 million endpoints. The company claimed MSPs using Kaseya 365 are seeing profits 30-50% higher as well as greater efficiency and easier solutions selection, since they no longer have to use cost to determine what technology to include for their customers. In fact, Kaseya said, for the thousands of MSPs who have signed on, the total cost savings already totals $400 million annually.

2. Check Point Names New CEO: Earlier this year, Gil Schwed, CEO of Check Point, announced he would step down after 30 years at the company. Now, the company announced it has found his replacement in Nadav Zafrir. According to Check Point, Nadav Zafrir has been a co-founder and managing partner at venture creation and venture capital fund Team8 for the last 10 years. Team8 establishes and invests in companies focused on cybersecurity, data and AI, fintech and digital health. Zafrir built, invested and chaired 17 cybersecurity companies in addition to dozens of other technology companies he has consulted and mentored. He previously served 25 years in the IDF, retiring as a Brigadier General. Since 2019, he has served as chairman of the board of SolarEdge Technologies, a Nasdaq-traded smart energy company. Mr. Zafrir will assume the CEO role at Check Point in December 2024 and will join Check Point’s Board of Directors upon shareholder approval at Check Point’s next annual general meeting. Gil Shwed will become executive chairman of the board. Congratulations!

3. Vanta Raises $150 Million for Enterprise Expansion: Trust management, security and compliance automation startup Vanta has raised $150 million in Series C funding led by Sequoia Capital. The cash will be used to fuel expansion into the enterprise and drive AI innovation, the company said. TechCrunch reported that the company is now valued at $2.45 billion, up from $1.6 billion in 2022 when it raised its $40 million Series B round. Earlier this year, Vanta announced that it had surpassed $100 million in ARR in its financial year ending in January.

4. ZEST Security Launches to Address Cloud Risk Remediation: AI-powered cloud risk resolution platform startup ZEST Security Inc. launched with $5 million in funding to develop and scale up its platform. Funding came from Hanaco Venture Capital Ltd., Silvertech Ventures LP and a number of unnamed angel investors, as Silicon Angle reported. The company was founded by Snir Ben Shimol and Uri Aronovici, former Israeli Defense Forced Intelligence officers with experience at companies including Akamai Technologies Inc. and Varonis Systems Inc. ZEST's platform that correlates and pinpoints the root cause of cloud risks and helps create resolution paths that eliminate cloud vulnerabilities and misconfigurations that attackers can exploit.

5. Dazz Raises $50 Million for Cloud Risk Remediation: In other cloud risk remediation startup news, Dazz, which focuses on vulnerability remediation for enterprises that use cloud services, has raised $50 million in equity funding. Dazz works with larger enterprises, and said its revenue has increased by more than 400% over the last year, though it didn't disclose revenue figures. Existing investors Greylock Partners, Cyberstarts, Insight Partners and Index Ventures led the round, according to TechCrunch. Dazz, which launched in 2021, has now raised around $110 million in total.

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