November 2023
Deepthi Madhava
We're excited to be part of Gutsy’s $51M financing, one of the cybersecurity industry’s largest ever seed rounds. Thanks to the advocacy of Gutsy’s CRO and OVF venture partner Brian Lake, OVF was the only Pacific NW fund invited to participate in Gutsy’s hotly sought-after seed round.
Organizations continue to grapple with achieving their security governance, compliance, and best practices goals, despite significant investments in cutting-edge security tools. Fueled by research involving 50 enterprise chief information security officers, Gutsy found that 55% of security tools were inefficiently utilized, leading to 38% of security incidents being caused by process failures. Even more concerning, a whopping 63% of audit findings traced their roots back to security process breakdowns.
Drawing inspiration from Celonis' success in optimizing Enterprise Resource Planning (ERP) processes through data mining, Gutsy is poised to do the same for information security. Their secret weapon? A real-time process map designed to unearth vulnerabilities and enhance security. Traditionally, security efforts have focused on detection and settings, addressing misconfigurations and incident response. In contrast, Gutsy was founded on the idea that systems are a set of interconnected processes, and to get to the heart of any incident, you need to understand how those systems fit together to get to that result.
Gutsy's product integrates with the most prevalent tools, from cloud providers to HR systems, and leverages process mining to uncover vulnerabilities in critical workflows. It doesn't stop at the basics; Gutsy digs deep, revealing hidden insights and ultimately fortifying security processes. Users of the Gutsy platform are primarily security executives, security tech leaders, auditors, compliance leaders, and IT staff.
Led by an experienced team of security experts with a proven track record, including the successful acquisition of Twistlock by Palo Alto Networks in 2019 for $410 million, Gutsy is well-funded and strongly positioned to address a critical, unmet security vulnerability challenge within enterprises. The market lacks a clear process mining solution for information security. With over 48,000 enterprises worldwide employing over 1000 employees each, and an average annual contract value of $100,000, Gutsy has a substantial market opportunity to pursue, potentially building a billion-dollar annual recurring revenue company. Our investment in Gutsy is a bet on innovation, expertise, and a passionate team determined to reshape cybersecurity governance. We're thrilled to be a part of this journey and look forward to the exciting developments that lie ahead.
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