Concourse Labs, a company that accelerates enterprise digital transformation through automated cloud governance, has emerged from stealth mode and announced $15.2 million in Series A funding. The round was led by ForgePoint Capital, with existing investors 83North and Capri Ventures participating. The company plans to use the funding to expand sales and marketing efforts, scale operations, and broaden and accelerate product development.
According to Concourse Labs, traditional enterprise governance, risk and compliance (GRC) approaches cannot work at cloud speed and scale nor deal with the distributed and ephemeral nature of cloud resources. And enterprise complexity presents many obstacles to successful cloud adoption. This leaves enterprises exposed to data breaches, service outages, fines, and tarnished corporate reputations. Furthermore, legacy methods slow the pace of innovation that enterprises seek when moving to agile development models.
The use of automated cloud governance eliminates time-consuming and costly manual processes. Concourse enables enterprises to adapt successfully to the cloud, providing observability and control of their risk posture. It provides an immutable system of record for an organization’s policies, identity and cloud usage, enabling companies to operate at cloud speed and scale, with confidence and control. It automates manual processes, speeding innovation, improving security and reducing risk.
Concourse Labs says it solves the following four critical challenges organizations face when the move to cloud:
- Observability, Verification, and Audit, delivering an independent and provable record demonstrating conclusively the organization’s state of compliance at any moment, current or historical. Concourse Labs solves the gap security and compliance teams have, enabling them to accurately report to their boards, auditors, regulators, insurers and shareholders.
- Agile Governance, enabling innovation to happen rapidly while assuring compliance with corporate policies and controls. A catalyst for successful shift-left DevSecOps transformation, Concourse automation frees developers to deliver code rapidly without security approval bottlenecks, and eliminates the demand they become security experts.
- Continuous control verification, identifying non-compliance cloud usage in real time, quickly controlling risks from configuration drift, shadow IT and hacking.
- Automatic testing of infrastructure-as-code, providing enterprises a reliable and verifiable understanding of their risk posture as they deploy even the most complex applications to cloud.
The Concourse Labs executive team is comprised of pioneers in enterprise cloud adoption, with previous executive positions held at Goldman Sachs, Red Hat, Google, AWS, and Rackspace.
“A new approach is needed to enable enterprises to move to cloud with speed and security,” said Don Duet, CEO and co-founder. “We built Concourse Labs with this mission, to enable digital transformation with confidence. Obtaining a significant amount of funding from industry-leading investors at this time is a testament to the importance of our goals and the strength of our team and solution.”
For more information, go to www.concourselabs.com.