Savvy, a platform to secure SaaS apps, launches out of stealth with $30M

News Summary

  • Installed as a browser extension, Savvy can watch for problematic actions that a user might take on a desktop or laptop, such as submitting sensitive data to ChatGPT.On the back end, security teams can create workflows with automation playbooks that trigger when users take certain actions.
  • But Savvy does collect data — specifically metadata — for monitoring and reporting purposes, and the company stores it for 180 days by default.That metadata retention might concern the users being monitored — and the companies entrusting Savvy with their data, for that matter.
  • Savvy counts “several” Fortune 500 customers in tech, hospitality and consumer goods verticals among its 15 customers, Guzner claims, and has a total of 100,000 users under management.It’s worth noting that Savvy is in a relatively stable place considering the current state of cybersecurity startup funding.
  • A fundamental shift in the decision-making and actions surrounding software usage is required to address SaaS sprawl.”Guzner says that the tranche announced today will be put toward scaling Savvy’s go-to-market presence and 50-person team, focusing on the U.S. market, and building out the company’s customer support and success functions.
  • But rapid SaaS adoption, the lack of standardized apps and their security controls and the complexities introduced by app integrations are burdening security teams,” he said.
  • “This challenges security and business managers to keep up with user requests for new apps and secure the ones already being used.
Softwareasaservice (SaaS) apps are an essential part of how many companies do business. But when the number of apps grows beyond a certain threshold, it can be difficult to secure them. According [+4660 chars]