Nirmata, a provider of cloud-based policy and governance solutions, has raised $9.6 million in a funding round led by Peak XV's Surge (formerly Sequoia Capital India & SEA), with participation from Dallas Venture Capital, Dreamit Ventures, and existing investors Z5 Capital and Uncorrelated Ventures. Following strong customer growth, Nirmata intends to expand its presence in India, scale its go-to-market strategy, and speed up product development. The goal is to serve as a hub for security automation, governance, and compliance across all applications and underlying IT infrastructure, from code to cloud.
"Nirmata is well positioned to address the growing need for robust security and governance in the rapidly evolving cloud-native ecosystem," stated Jim Bugwadia, Nirmata's co-founder and CEO.
"This funding highlights the strong market demand for our solutions and empowers us to scale our operations, helping more organisations strengthen the security and efficiency of their cloud-native environments."
As AI-driven applications drive the growth of cloud-native technologies, businesses are quickly adopting new solutions and forming platform engineering teams. The proliferation of AI-generated code is also changing software development by automating tasks and producing complex code on a massive scale.
Nirmata stated that it is at the forefront of meeting the growing demand for Policy as Code to automate and scale security across complex cloud environments. Nirmata's policy-driven automation tools, such as Nirmata Control Hub, help businesses simplify security and governance, allowing for secure and efficient scaling in an increasingly dynamic landscape.
Nirmata established top engineering and customer success teams in Pune and Bengaluru. This strategically positions it to capitalize on the country's vast pool of technological talent. The company operates in the rapidly growing Kubernetes and security markets, which are expected to reach $12.3 billion by 2031, with a compound annual growth rate (CAGR) of 26.3%. Nirmata has seen success with Kyverno, resulting in a tenfold increase in revenue from its security and governance solutions.
"The security of our software is at a pivotal moment, as the increasing complexity of cloud-native environments is overwhelming security and platform teams, leading to burnout and stifled innovation," said Saqib Syed, who is also a board member "By automating security in delivery pipelines, organisations can maintain governance at speeds that prevent breaches before they even happen."
Nirmata's open-source policy engine for Kubernetes, Kyverno, has surpassed 3.2 billion downloads, helping to drive a 10-fold increase in revenue for its security and governance products.
