Israel-based Coralogix forms Snowbit, a cyber security venture in India
Israel-based Coralogix, announced its foray into the India cyber security market with the launch of security venture Snowbit. The company, which will initially focus on the Indian and Israeli markets, is a full-service cybersecurity venture focussed on empowering cloud-native companies to secure themselves against growing cyber risks in a quick, efficient, and cost-effective manner.
Founded and led by tech veterans and former Amazon Web Services (AWS) executives Navdeep Manaktala and Zack Barak, Snowbit will have operations across Tel Aviv and New Delhi/Gurgaon. An Indo-Israeli venture, Snowbit will have its operations (R&D, product development, and expert teams) across India and Israel to leverage the best of Israeli cybersecurity talent and India’s unique position to become the global cybersecurity hub of the world.
“We are setting up a security research centre in India. Additionally, the India will also be the hub for our product development along with Israel. We plan to start with a 40 member team for the research centre by the end of the year and we will also further ramp up our sales and marketing team,” said Navdeep Manaktala, co-founder Snowbit and president APJ Coralogix.
Snowbit’s Managed Extended Detection and Response (MxDR) incorporates a SaaS platform and expert services. The platform gives organizations a comprehensive view of their cloud environment’s security and compliance (CIS, NIST, SOC, PCI, ISO, HIPAA). The expert teams are offered 24x7 to provide support for more efficient remediation.
In July 2021 Coralogix had raised $55 million in series C funding round led by Greenfield Partners. The company is investing around $10 million as initial investment for the Indian market.
Mankatla also shared that this is the first Indo-Israel venture in the cyber security space, that too with India as a focus both as a market as well as development hub. “At present we have customers in India, Israel and the US. With a strong growing startup ecosystem which relies on cloud infrastructure, security is a crucial aspect. Besides we already work with several unicorns in India already,” he added.
Snowbit platform scans the entire cloud environment for abnormal activity, configuration, network, and vulnerability issues. It automates threat detection and incident response leveraging machine learning, an extensive set of pre-configured rules, alerts & dashboards, and support for integration with any orchestration platform.
“Observability forms the bedrock of cybersecurity, and as a result, Snowbit is strategic for Coralogix as it enables us to offer a powerful integrated observability and security proposition to unlock the value of data correlation,” said Ariel Assaraf, CEO of Coralogix.
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