In today’s fast-paced business environment, many companies rely on Software-as-a-Service (SaaS) applications to streamline their operations and increase productivity. However, with the average organization using over 130 SaaS apps, managing security has become increasingly challenging.
According to Statista, in 2022, organizations worldwide were using an average of about 130 SaaS apps, up from just eight in 2015. This rapid adoption of SaaS apps has led to a phenomenon known as "SaaS sprawl," where the number of apps grows beyond a manageable level, making it difficult for security teams to secure them.
The Challenge of SaaS Sprawl
Guy Guzner, co-founder of Fireglass, a cybersecurity startup acquired by Symantec in 2017 for $250 million, recognized the challenge posed by SaaS sprawl. He decided to incubate a new startup, Savvy, to help enterprises tackle SaaS vulnerabilities.
Savvy aims to minimize "user-initiated" security incidents involving SaaS apps through pop-ups that alert users when they’re about to make an "insecure" action. The platform can track improvements over time and report insights and metrics down to the role, team, and user levels, optionally performing employee risk profiling.
Savvy: A Solution to SaaS Sprawl
Savvy’s approach sets it apart from other startups like Valence Security and Spin Technology, which provide platforms to secure SaaS apps. "For example, when a user attempts to submit sensitive data, Savvy will alert them to the risk," explained Guzner via email.
"The goal of Savvy is to help users improve cyber hygiene without derailing their productivity. If users can circumvent security to complete work just a bit quicker, they often will." This approach acknowledges that employees may find ways to bypass security measures if it gets in the way of their work.
The Growing Demand for SaaS Security Solutions
Guzner stated that Savvy started selling its solution earlier this year while still in stealth mode and is seeing a growing demand from enterprise customers. "We’re seeing a growing demand from enterprise customers for our solution, so it made sense to raise funds now and scale the company."
Canaan Partners Leads Funding Round
In a significant development, Canaan Partners led a funding round for Savvy, which will help the startup scale its operations and meet the growing demand for SaaS security solutions.
Conclusion
The rapid adoption of SaaS apps has created a challenge for organizations to manage their security. Savvy’s innovative approach to minimizing user-initiated security incidents offers a solution to this problem. With the growing demand for SaaS security solutions, Savvy is poised to become a leading player in this space.
Related Topics
- Canaan Partners
- Funding
- SaaS
- Savvy
- Security
- Startups
