Year after year, cybersecurity continues to drive most of the growth in IT spending worldwide, with IDC predicting that it will top $103 billion in 2019. In every survey conducted with CTOs, CIOs and CISOs, enterprises have expressed a desire and need to increase the spend on security. This is certainly not surprising and largely a function of the massive expansion of attack vectors and the record number of breaches in recent years.
While the threat of attacks remains omnipresent and the attacks themselves become increasingly sophisticated, enterprises are also migrating to the cloud at an unprecedented rate to take advantage of the agility, economics and scalability of cloud infrastructure, making the problem exponentially worse. Yet, with all the innovation that the underlying infrastructure has created over the last decade, the shortcomings of legacy technologies have never been as glaring as they are today. As a result, enterprises have been forced to stitch together point solutions from various vendors which are 10% better, 15% faster or 20% cheaper. CISOs are constantly trading off security for agility, which holds their organizations back as they try to embrace a multi-cloud and hybrid environment for maximum efficiency and performance.
CISOs are constantly trading off security for agility, which holds their organizations back as they try to embrace a multi-cloud and hybrid environment for maximum efficiency and performance.
We heard these comments over and over again from CISOs and were convinced that hidden beneath these problem statements is a massive opportunity. The market is begging for a company that isn’t thinking of network security and data protection as an after-thought, but rather re-imagines security from the ground up in a world that is cloud first. A company that is led by a team that empathizes with the pain of CISOs and has a deep and nuanced understanding of the solution that would allow enterprises to leverage the advantages of the cloud, yet still feel protected across all environments. And finally, a company that has the ability to go beyond a product to become a ubiquitous platform and offer a deep and holistic solution to enterprises of all sizes, while still allowing customers to deploy in minutes and experience time-to-value in days, not months.
This is exactly what we found in Valtix. The founding team of Vishal Jain, Praveen Patnala, and Vijay Chander have an audacious vision that is grounded in decades of experience from having built and scaled companies to hundreds of millions in revenue.
Vishal and his team inspired us with their vision of re-imagining network security for the cloud era, their mission-driven approach to company building, and their relentless focus and obsession with customers, many of whom are in the Fortune 100 and some of the largest organizations in the world. The team combines the best talent from networking, security and virtualization to create a best-in-class and holistic platform for cloud network security that delivers an order of magnitude higher performance, infinite scalability and deep analytics in a single consolidated platform — built in the cloud, for the cloud.
Today, I am excited to announce our investment in Valtix, thrilled to partner with this outstanding team and feel humbled that they chose us as their partner and lead for the Series A. On behalf of the Valtix team and the board, we are also humbled by the incredible support and investment by industry leaders like Mohit Aron, Gokul Rajaram, Deep Nishar, Anand Rajaraman, Faiyaz Shahpurwala and many others who were similarly inspired by the entire Valtix team.
Vishal, Praveen, Vijay, Brian and the growing Valtix team — Welcome to the Trinity family!
I am so excited to be working with you all and appreciate the opportunity to be a partner to you on this incredible journey.