By Somesh Dash, Joanne Shang, Shreyas Garg and Cack Wilhelm
IVP is proud to announce our investment in Obsidian Security, the first truly comprehensive security solution for SaaS. Here’s a snapshot of why we’re excited to partner with Obsidian today:
Obsidian Protects a Massive, Underserved Market
A paradigm shift is happening in the cybersecurity space. More and more organizations are entrusting SaaS applications with highly sensitive business data, driving an influx of bad actors intent on targeting this same data. In turn, business owners are realizing that protecting sensitive SaaS data is an increasingly critical need. These security challenges are further complicated by the dynamic nature of attacks which affect both third-party integrations and cross-application connections. While security leaders recognize the urgency of protecting their organization’s critical services, they often lack the tools, time, resources, and experience to do so confidently. Furthermore, every SaaS application has its own user interfaces, unique permission models, granular controls, and various add-on options that are difficult to track and keep pace with.
Enter Obsidian. Obsidian is the first truly comprehensive security and compliance solution built with the express aim of protecting SaaS applications that businesses rely on. By analyzing state and activity data within and across Salesforce, Workday, Microsoft Office 365, Google Workspace, and other business-critical applications, Obsidian helps security teams manage privilege and access, harden configurations, and identify compromised accounts. Obsidian’s holistic approach to SaaS security goes beyond typical authentication and proxies, providing diagnostic results and actionable recommendations within minutes.
Experienced Management Team
Obsidian is led by an exceptional, multidisciplinary management team and board. Hasan Imam, Obsidian’s CEO, is a versatile executive who has continually impressed us with his dedication, work ethic, and integrity. The Obsidian management team is one of the most talented groups of security experts and leaders we’ve worked with yet, drawing on highly relevant experiences at companies like Shape Security, Cylance, VMware, Carbon Black, F5, Zscaler, and Palo Alto Networks.
The Road Ahead
We’re thrilled to see the impressive traction to date. Obsidian has grown over three times in annual recurring revenue in the last year, and we’re eager to see what’s to come. Obsidian has only just scratched the surface in terms of its impact on the security landscape, and our team at IVP couldn’t be more enthusiastic to partner with this incredible team of builders.