Veeam, the world’s largest data protection and cyber-resilience supplier, could be buying Securiti for around $1.8 billion, Bloomberg reports.
Securiti was started up in 2017, is based in San Jose, and operates in the Data Security Posture Management (DSPM) space with offerings encompassing data discovery, security, governance, and compliance. It aims to help organizations adopting AI to manage and use their data across on-prem and multiple public cloud environments, including SaaS. Its CEO and President is Rehan Jalil who has Symantec and Symantec-acquired BlueCoat exec time in his CV. He started up Securiti with other ex-Symantec/Bluecoat execs and the company has raised some $156 million in A, B, and C-rounds between 2019 and 2022, plus undisclosed amounts in three venture rounds, with the most recent one in March, 2023.
The main offering is a Data Command Center which is built around a knowledge graph. This Data Command Graph contains contextual information about data items and AI objects, and provides, Securiti says, a unified data control framework to manage security, privacy, governance and compliance. There are a claimed 1,000+connectors which it can use to link to data sources and get information about their data types. Eg; Azure Blob, AWS S3, Snowflake, Databricks, Salesforce, ServiceNow, and others, such as Pinecone and Weaviate for vector databases.
Securiti customers can use this Data Command Center instead of having separate tools. They can, we understand, discover shadow data, enforce access controls, and analyze breach impacts.
Veeam is owned by private equity business Insight Partners, having been bought for $5 billion in 2020. It has the largest revenue share of the data protection market, according to IDC. It was valued at $15 billion in a secondary share offering at the end of 2024 and Microsoft invested in Veeam in February this year. Veeam then announced three of its Microsoft-focused services would use Microsoft’s CopilotAI tool. Veeam bought ransomware extortion negotiator Coveware in April last year.
The company is partnering Continuity Software for anti-ransomware technology and Palo Alto Networks for cyber-attack responses.
Veeam does not have a specific DSPM-focussed offering but does have DSPM features embedded in some of its products. For example, automated data classification in backups, immutable storage such as S3 Object Lock, Veeam ONE’s AI-powered threat detection provide visibility and risk management that accord with DSPM.
We would think that acquiring Securiti takes Veeam into the general DSPM market and enables it to compete better with Rubrik, which has become a cyber-resilience supplier after starting out as a pure data protection vendor. Specifically, it added DSPM to its Rubrik Security Cloud in December last year, using Microsoft labeling to protect sensitive data access. Veeam could integrate its own security and data protection offerings into the Securiti Data Command Center, and provide data loss and recovery features for it, matching if not exceeding Rubrik’s DSPM capbilities.
Watch a Securiti DSPM video here.
