Governance & Risk Management , Vulnerability Assessment & Penetration Testing (VA/PT)

Nagomi Exits Stealth With $30M to Help Manage Security Risks

Cyber Startup Wants to Enhance Customers' Proactive Management of Security Risks
Nagomi Exits Stealth With $30M to Help Manage Security Risks
Emanuel Salmona, co-founder and CEO, Nagomi Security (Image: Nagomi Security)

A threat exposure management startup led by an ex-Claroty executive emerged from stealth to help organizations proactively manage security risks and improve their defensive postures.

See Also: August Spotlight | Automated Threat Intelligence Correlation

Nagomi Security said the $30 million in funding from TCV, Team8 and CrowdStrike and Okta's venture funds will help the New York-based company develop a comprehensive platform that integrates various security tools and data sources. Co-founder and CEO Emanuel Salmona said Nagomi has secured its first 10 customers and reached $1 million in annual recurring revenue within its first year of operations.

"We've been building the company so far with a very small R&D team internally and with no sales team," Salmona told Information Security Media Group. "What we see right now is that there is market demand for what we're building. And that requires a stronger, broader product; better, more scalable use cases; as well as the ability to go and to create partnerships in the market."

The company was established in January 2023, employs 32 people and has been led since inception by Salmona, who most recently spent three and a half years at Claroty, culminating in 16 months leading its European business. Nagomi started 2024 with just 20 employees and expects to finish the year with between 45 and 50 workers thanks to investments in go-to-market, researchers and engineers, he said.

Nagomi selected TCV to lead its latest round of funding since it is capable of supporting the company from early growth to a potential initial public offering, according to Salmona. He was impressed by TCV's expertise across geographies, verticals and different stages of startup maturity and expects it will be able provide strategic support regardless of Nagomi's size (see: 2023 Is the Year of Exposure Management).

From Product to Platform

In the months ahead, Salmona wants to expand Nagomi's product offerings and scale its go-to-market operations to include not only founder-led sales but also a broader sales and marketing team. Nagomi also wants to hire data engineers with deep expertise in security and analytics to strengthen the firm's capabilities around proactive security, according to Salmona.

"We're solving a problem that combines security knowhow and data, which is all the telemetry we were able to collect from within the security tools," Salmona said. "We actually require very deep domain expertise on the security researcher side."

Salmona wants to see Nagomi transition from offering only a single product to a broader platform that integrates threat intelligence and risk reporting by stitching together existing capabilities from third-party vendors to deliver more proactive security defenses. Connecting threat context to vulnerabilities and defensive measures will help organizations manage risk and deliver more comprehensive solutions.

"We need to be able to stitch together a lot of single-point solutions that have been out there already in the market so that security can become more proactive and defend against what is out there," Salmona said. "Our first use case allows us to assess an organization's defensive readiness against the threats they care about most."

Nagomi wants to help organizations determine the relevance of vulnerabilities found within their four walls, assess their defensive posture based on existing security controls, and ensure said controls are actually running effectively on the attack surface. He wants to extend Nagomi's platform to cover more personae, such as risk managers and security operations staff, and provide interoperability with other tools.

Giving Customers Greater Context

Salmona also wants to make Nagomi's platform better tuned to the threat profile of specific customers by examining what existing vulnerability management processes look like, how they currently manage their attack surface, and how they assess and quantify risk that's already been identified. Customers can apply Nagomi in the context of tools they already have in areas such as governance, risk and compliance.

"Our product is going to be better attuned to customers' particular context," Salmona said. "It's going to be better tuned toward their threat profile. It's going to be better tuned toward how they're already doing internal processes. And it's going to be better tuned towards how they currently manage their attack surface," Salmona said.

Nagomi targets organizations headquartered in North America and Western Europe that have between 1,000 and 100,000 employees, and it is particularly strong in areas such as financial services and manufacturing, according to Salmona. Establishing partnerships and integrations early in Nagomi's journey will help the company differentiate its product from rivals and address clients' threat profile and internal processes.

"We believe that we'll start seeing a more competitive environment within the next six to 12 months," Salmona said. "More and more companies are going to address this particular need, and we're going to meet them at the customer proof of concept."

About the Author

Michael Novinson

Michael Novinson

Managing Editor, Business, ISMG

Novinson is responsible for covering the vendor and technology landscape. Prior to joining ISMG, he spent four and a half years covering all the major cybersecurity vendors at CRN, with a focus on their programs and offerings for IT service providers. He was recognized for his breaking news coverage of the August 2019 coordinated ransomware attack against local governments in Texas as well as for his continued reporting around the SolarWinds hack in late 2020 and early 2021.

Around the Network

Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing, you agree to our use of cookies.