Israel-based Coralogix launches cybersecurity business in India

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BENGALURU: Coralogix, an Israel-based technology company, has launched a cybersecurity business in India focused on protecting cloud-native businesses from growing cyber threats in a fast, efficient and cost-effective manner. India and Israel will be the first target markets given its large existing customer base and growing base of cloud-native businesses.

Led by tech veterans and former Amazon Web Services (AWS) executives Navdeep Manaktala and Zack Barak, the cybersecurity firm called Snowbit will have operations in Tel Aviv and New Delhi/Gurgaon to leverage the best of talent Israelis in cybersecurity and India’s unique position to become the global cybersecurity hub.

Snowbit’s platform scans the entire cloud environment for anomalous activity and automates threat detection and incident response leveraging “machine learning, a comprehensive set of rules, of preconfigured alerts and dashboards, and support for integration with any orchestration platform,” Coralogix said in a statement. .

Snowbit will support multi-cloud infrastructures and Software as a Service (SaaS) environments. It will also offer Indian customers the unique advantage of being able to process and store data in-country at all times, thus remaining compliant with applicable data localization standards.

“The rapid acceleration of cyber threats leaves many organizations exposed and unable to effectively address security challenges as they arise,” said Navdeep Manaktala, Snowbit Co-Founder and President – APJ, Coralogix. “Snowbit aims to address the fundamental security challenges facing today, including the complexity of the cloud, the growing sophistication of attacks, the lack of in-house cybersecurity expertise, and the overhead of managing multi-point security solutions.”

According to government data presented to parliament, nearly 1.16 million cases of cyberattacks in India were reported in 2020, marking an average of 3,137 cybersecurity issues reported every day of the year.

In July 2021, Coralogix raised $55 million in a Series C funding round led by Greenfield Partners, bringing the company’s total amount raised to $96 million. A significant portion of the funds raised would be devoted to pursuing its five-year strategic growth plan for the Indian market.

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