In Snowflake Ventures, we believe there’s the potential for an entirely new type of SaaS application. Thanks to Snowflake as the database infrastructure, an industry of partners is building top-of-the-line software to revolutionize departments and initiatives throughout the company.
Cybersecurity is a field where we can see huge advantages and the potential for transformation. Users who adopt the latest software version for security analysis employ the Snowflake Data Cloud as their data lake as part of the cloud-native security analytics stack. We are responding to the changing requirements of our customers and concerns as they shift to the cloud; we’ll continue to delve further into cybersecurity with our capabilities as a data platform, partnerships, and investment.
Security teams had a history of collecting security logs within special SIEM (Security Information and Event Management) solutions. Created for data centers where elasticity and scale were not as high, many of the answers have been lifted and shifted onto the public cloud instead of being entirely designed from scratch to use the distinct characteristics of cloud computing. It has put security personnel of companies in a bind when trying to implement traditional SIEMs with the size of complexity, speed, and efficiency needed in a cloud.
The process of detecting and responding to threats is not able to achieve success when security experts have to separate important security sources of data inside a separate silo within their SIEM. Many CISOs who are Snowflake clients have informed us that they can’t centralize giant volume data sets like flows logs EDR (Endpoint Detection and Response) for forensics and SaaS Telemetry within their existing stack. The result is transparency gaps; they cannot link the isolated security data with context information from different areas of their business.
We’re pleased to confirm we’ve announced that Snowflake Ventures is among the Series B investors of Panther, the world’s leading cloud-scale security analytics and platform. With its most recent funding round, Panther has raised $120 million. This brings the company to a valuation that is a unicorn that is $1.4 billion.
Snowflake recently announced a commercial collaboration together with Panther in 2020. Our partners comprise Dropbox, Figma, and Guild Education. Snowflake is itself an existing Panther client, having developed security tools in-house without alternatives to conventional SIEM tools.
They were created from end-to-end to benefit from the elasticity of the cloud and detection-as-code. Panther uses Snowflake as an essential element of their data infrastructure for security teams to efficiently collect, analyze and notify across terabytes of security-related data in real-time. Suppose an organization is required to look into any security breaches. In that case, Security teams can dramatically increase the computing resources throughout the investigation and swiftly decrease the amount when the investigation is completed. It can lead to significant savings and excellent performance levels when it is most important.
Panther customers can deploy Panther as an application that is connected on top of their Snowflake infrastructure. In this case, Panther users can expand their Snowflake account, which becomes their data lake for security. It gives them access to and controls over their data and helps align their data with the overall enterprise data strategy. Establishing a single source of truth in an analytics platform unlocks the potential for detection- and security-policy-as-code.
We’ve heard from some of the top cloud-focused security groups that integration with Panther and Snowflake provides them with the security flexibility they want in a well-integrated structure with a minimal amount of cost. The ability to make every team more data-driven is the core of Snowflake’s goal, so naturally, we were looking to improve the already extensive cooperation.
To learn more about our investment structure, please visit the Snowflake Ventures website page here. You can contact the Snowflake team to learn more about using Panther with Data Cloud. Data Cloud.
