Announcing Our Investment In Paladin Cloud

Announcing Our Investment In Paladin Cloud

July 11, 2022

TechCrunch published an article this morning announcing Bowery Capital's newest investment, Paladin Cloud. You can read more about the company origins, the founding team's backgrounds, and the funding round here. We are excited to be involved alongside Okapi Venture Capital, SaaS Ventures, T-Mobile Ventures, and others.

Who?

While Paladin Cloud was started in stealth in late 2021, Steve Hull (CTO) has had this idea for some time. Steve is the original creator of the PacBot open source community, which he launched during his time at T-Mobile. It was at T-Mobile where Steve met Daniel Deeney (CEO) who was with Touchdown Ventures at the time. Both founders understood the problems that persisted for developers and security teams and saw a need for an open source solution in the market. Daniel has an accomplished security background, having been in number of different roles, most recently with Touchdown Ventures. He previously served as CEO of AetherPal (acquired by VMWare), which is a secure-remote access company.

What?

Paladin Cloud was launched to provide a holistic approach to cloud security for developers with an open source, Security-as-Code offering. The platform helps developers and CISO teams identify blind spots in their cloud environments through real-time continuous monitoring. The single pane of glass policy management plane provides visibility into cloud assets through real-time, continuous monitoring to quickly identify and remediate security risks. Dan and Steve are creating an architecture to connect across all of the major clouds and other cloud technologies and will include self-healing auto-fixes. Paladin Cloud's open source product is free to download and use at the link here.

Why?

Remote work has become a forcing function for digital transformation, leaving many larger enterprises exposed when it comes to cloud security. Paladin Cloud is the easiest open-source option for cloud security policy management today and we believe the company is well-positioned to meet enterprises at the developer level with the tools they need to build and deploy securely. Identified as a key area of a top security issue, misconfiguration of the cloud platform continues to be one of the most common causes of data breaches for organizations operating in the public cloud. CEO Daniel Deeney said it best his quote to TechCrunch: “Developers prefer to deploy open source solutions versus closed source. To date, closed source players sell their products to CISO or security teams as paid enterprise solutions. Many developers do not use these products because they don’t have a budget oftentimes to purchase expensive enterprise solutions, and these products are not flexible to integrate into other cloud based systems.”

Where?

Paladin Cloud is a remote-first company based in New Jersey.

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