- The software developed by the startup can ascertain the record’s creation time, storage location, and authorized access.
- In organizations, hidden unauthorized duplication heightens breach risks. Laminar’s platform aims to counter this.
Laminar Technologies Inc., a startup that aids businesses in mapping out their cloud-based data assets and locating insecurely stored data, is being acquired by Rubrik Inc.
In its recent announcement of the deal, Rubrik omitted to mention the financial details. However, a leading media outlet was informed by a source that Laminar was valued at over USD 100 million due to the acquisition. According to two additional sources, the deal is worth USD 200 million to USD 250 million.
Keeping track of every file a worker creates in a big company can be difficult. Administrators might not always be aware of unauthorized copies or unsafe sharing of records. These cybersecurity problems could make data breaches more likely.
Based in Tel Aviv, Laminar has created a software platform that claims to reduce that risk. The startup asserts that its platform can automatically map out all of a company’s cloud-based records. The software then employs machine learning to find files containing sensitive information, like passwords, automatically.
Laminar claims that its algorithms also gather additional significant information from a company’s files. The startup’s software can determine when a record was created, where it is stored, and who has access to it.
Laminar uses the data it gathers to pinpoint the data assets that might be more vulnerable to hacking. For instance, the platform can identify records that are accessible to an excessive number of users. The platform then generates remediation recommendations and prioritizes the cybersecurity issues it discovers based on their seriousness.
Before being acquired by Rubrik, Laminar reportedly had “double digits” of customers. Additionally, SentinelOne Inc., a publicly traded provider of cyber security, Salesforce.com Inc.’s venture capital division, and other institutional investors contributed USD 67 million to the startup.
Mike Tornincasa, Chief Business Officer of Rubrik, said, “Together, our teams will create an integrated offering that gives customers the benefits of cyber recovery and cyber posture capabilities, and positions them to be resilient in their fight against cyberattacks.”
There are rumors that Rubrik wasn’t the only company interested in purchasing Laminar. The startup was reportedly being pursued by a number of other enterprise software companies earlier this year, according to reports. Datadog Inc., an observability provider, is thought to have been one of the potential buyers.
The business plans to use Laminar’s technology to expand its flagship product’s current data protection features, the Rubrik Security Cloud. One of those already-available features is a tool that enables businesses to make unchangeable data backups. An immutable backup can withstand ransomware attacks because it cannot be changed or removed.
Following the acquisition, Rubrik intends to establish a new research and development facility in Israel. The center, which will emphasize cybersecurity, will complement the company’s already-established engineering hubs in Bangalore and Palo Alto.