Entro, an Israeli cybersecurity startup offering secrets security and management, have announced $6 million in seed funding led by StageOne Ventures and Hyperwise Ventures.
Founded by CEO Itzik Alvas and CTO Adam Cheriki to address secret-based breaches, Entro continuously monitors and protects secrets and programmatic access to cloud services and data.
Angel investors include Rakesh Loonkar, founder of Trusteer and Transmit Security, Mickey Boodaei, founder of Imperva, Trusteer and Transmit Security, and Amichai Shulman, founder of Imperva and AirEye.
According to the Verizon 2022 Data Breach Investigation Report, secret-based breaches are among the top three attack vectors today and the most destructive breach type to an organization.
Secrets security refers to the practice of protecting machine and cloud access keys and credentials from unauthorized access, disclosure or use.
Secrets are often programmatic access keys (such as API keys, access tokens, connection strings, etc.) used by applications to access sensitive data and cloud services.
With cloud services on the rise, even more secrets are being created by R&D teams. Today there are a minimum of 500 secrets per organisation scattered across at least five different secret stores. Adding to the risk, the DevOps teams creating the secrets are not responsible for securing them.
Currently, companies are relying on vaults for storage and secret scanners that search for leaked and exposed secrets. These solutions do not provide context about stored secrets, nor do they monitor or provide details about the cloud tokens or provide insights into usage, abnormal behavior or any correlated risk per secret.
“In recent years, we have witnessed how companies were devastated by secret-based cyberattacks that were highly damaging,” said Nofar Schnider, principal at StageOne Ventures. “Today, R&D teams are forced to manage a growing number of secrets in their development and tend to spread them across different vaults, repositories and services, while security teams are having an incredibly hard time combatting this problem.
“This is where Entro Security comes to the rescue. With their unique solution and skilled team, they are able to help security teams regain control while providing unparalleled suggestions and insights into the current state of the organisation’s secrets management.”
“Entro came to our attention because they are the first to holistically address a high-demand security problem that is growing exponentially,” said Ben Omelchenko, Hyperwise managing partner. “As organisations increase the interconnectivity between their cloud services, they proliferate more and more secrets across the IT landscape, significantly increasing vulnerability to attacks.”
