Tekion, a cloud technology provider for automotive sector founded by Tesla’s former CIO Jay Vijayan, has secured $200 million in growth equity capital from Dragoneer Investment Group. This financing round sets Tekion’s valuation above $4 billion, the company said in a press release. 

Tekion plans to invest the capital to expand its product offering for dealer partners and OEMs, accelerate implementation timelines, and deliver better customer support.

“Tekion has charted an extraordinary growth path, revolutionizing the automotive retail industry through our comprehensive and fully integrated platform,” said Jay Vijayan, Founder and CEO of Tekion. “We are delighted to partner with Dragoneer, whose team has followed our progress closely for multiple years, believes in our long-term vision, and carries an impressive track record investing in best-in-class vertical SaaS businesses.”

The funding announcement follows Tekion’s performance in 2023, with 97% year-over-year annual run rate revenue growth and expanding partnerships in the industry including with over 2,000 automotive retailers, multiple leading-brand OEMs, and over 250 ecosystem technology partners. The company had recently made key appointments to its leadership team, including the CFO, CRO, and CTO. 

“Having watched Tekion’s rapid pace of innovation and market adoption over the past several years, we are proud to partner with and support Jay and his world-class team in the next phase of the company’s growth journey,” said Christian Jensen, Partner at Dragoneer. “

Tekion had raised $250 million funding in October 2021. The Pleasanton-headquartered firm has close to 3000 employees globally and caters to some of the leading automotive dealers across geographies.  

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Cloud repatriation or cloud exit are terms that we heard quite often in 2023 and will likely continue to command our attention in 2024. Is the cloud-first mantra, which was once widely touted as the future of all business operations, losing its luster? 

Thanks to several factors, CIOs are relooking at their public cloud strategies. While enterprises have greatly reaped the benefits of public cloud over the years, they are beginning to reassess their cloud-first or cloud-only strategies, opting instead to migrate certain workloads back to on-premise environments. Cost remains a key factor for this cloud repatriation.

A 2023 HashiCorp State of Cloud Strategy Survey reveals that almost all enterprises (94%) report “avoidable cloud spend” or what is known as ‘cloud waste’. 

“Cloud was at one point the biggest buzz, which took a long time to gain traction. Then it moved to a matured level of usage – a point after which many users realized that the costs were going immensely high. Strangely, accordingly to any law of technology, the cost should always come down as usage increases. Cloud has been the only exception to this rule,” says Sunil Mehta, CIO & Partner, BDO – a global professional services firm.

This, he adds, has led to ‘mixed feelings in the CIO community and the tech community at large’ about the future of public cloud as a platform of choice.  He was talking on the sidelines of Tech Saga 2024, one of the biggest gatherings of Tech visionaries, hosted by CIO Klub Pune chapter. 

“Strangely, accordingly to any law of technology, the cost should always come down as usage increases. Cloud has been the only exception to this rule,” says Sunil Mehta, CIO & Partner, BDO.

But is the public cloud aura really disappearing? Or is it the inherent evolutionary curve that  every technology will go through? 

Tech leaders emphasize that some key benefits of public cloud continue to be appealing and there are still quite a few takers for public cloud. Ashok Mandlik, SGM – IT, Deepak Fertilisers, vouches for the flexibility, scalability, agility, and the ease of innovation that comes with public cloud. 

“Most of the IT solutions today are available only on cloud platforms. Traditionally on-premise applications like ERP are also now moving to cloud. There is very little opportunity left to maintain these systems on-premise. That leaves organizations with no choice. Besides, an on-premise model is often not able to match the flexibility and agility that the cloud technology provides. The innovations that are rolled out by cloud players often compensate the downsides.”

Nevertheless, CIOs are increasingly going in for a workload-based approach as opposed to a platform-centric approach. They assert that certain workloads and applications are just not meant for the public cloud. 

“What we have typically seen is that CIOs want to put everything on the cloud without realizing what really needs to go there. That resulted in a lot of static data sitting on the cloud, which contributed significantly to the cloud cost upsurge. This trend was accelerated during COVID,” adds Mehta. 

“If the organization has clarity on the compute and storage parameters, the cost component can very well be controlled,” reiterates Mandlik. For many organizations, especially if they are not the very large enterprises, cloud is in fact ideal for balancing cost, performance, and security. 

“Traditionally on-premise applications like ERP are also now moving to cloud. There is very little opportunity left to maintain these systems on-premise. That leaves organizations with no choice,” says Ashok Mandlik, SGM – IT, Deepak Fertilisers.

According to Mandlik, security is still a strong reason for many firms to go in favour of public cloud. “For an on-premise model, enterprises will have to continue to invest on a wide-range of tools for risk mitigation and it’s an ever-evolving scenario. That is perhaps why security remains one of the strongest reasons for enterprises to go for public cloud. Add to that the need for backup & disaster recovery, and the availability of skilled manpower to manage the data Center, and many CIOs realize that cloud TCOs are in fact comparable with that of on-premise models,” he underscores. 

CIOs might often feel that they are walking on eggshells. They are falling back on the many learnings they have had over the years in finding the right fit. Hybrid and private clouds will see more adoption going forward as enterprises strive to control cost and maximize performance. Many ‘public-cloud only’ strategies are widely being shaken and revisited. 

“Hybrid cloud will certainly dominate. We will also see increased adoption of private cloud that provides the experience and security of a public cloud with better manageability and optimized cost,” believes Mehta. 

On-premise data centers still have very strong use cases in the manufacturing sector, Mandlik adds. Especially in process-heavy manufacturing establishments, the huge volumes of time-series data generated by OT systems still reside on-premise. But manufacturers leverage the cloud to analyze these data sets to derive business insights.

With more and more expensive AI workloads in the horizon, how are enterprises relooking at their cloud priorities? 

Enterprises’ cloud strategies are sure to get more nuanced – they are exploring a combination of public cloud, private cloud, industry cloud and co-location services, as they try to reassess each workload and place them in the right infrastructure. Cloud repatriation might be an obvious fallout of this reassessment. 

For the major hyperscalers who have long dominated the market, this is a decisive moment in their growth journey. Even though the pay-as-you-go model of the cloud is beneficial for fluctuating workloads, it can result in unexpected expenses when usage suddenly spikes. 

“There seems to be an increased interest towards Indian datacenter hosting companies and they could give the big hyperscalers a run for their money. Because cost is going to be a big differentiator in the cloud game,” states Mehta. 

Mandlik feels that the change is already happening. “Cloud providers now have become mindful of the fact that CIOs are increasingly conscious about cloud spending. Their dynamic pricing models (pay per use), simplified management mechanisms with flexible dashboards allow organizations to utilize the workloads and cloud services more meticulously,” he says. 

Above all, CIOs are relooking at their cloud strategies which they derived a few years ago. In today’s fast-paced world, one cannot expect a tech strategy to work for five years. Cloud is a perfect example of why our tech roadmaps should be versatile, according to Mehta.

“With cost becoming prohibitive, tech leaders must now go back to the drawing board and understand what needs to sit on cloud and what shouldn’t—and this must be done a lot more frequently now than before. Because the role of CIO is not about doing what everybody else is doing. We need to be a strategic leader than a blind follower,” he sums up. 

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Way back in 2010, when agtech was a relatively alien term, India had only about a dozen startups in this segment. Bangalore-based Cropin was one among those early agtech companies in the sector. A decade down the line, amidst over 1000 agtech startups, Cropin still remains the cream of the crop in the agtech space. 

Founded by two childhood friends Krishna Kumar and Kunal Prasad, the Bangalore-based company indeed had very humble beginnings. As agtech is all set to take centre stage, Cropin has traversed a long way to truly become a name to be reckoned with. 

This B2B player has digitized over 16 million acres of farmland, empowering over 7 million farmers (most of whom are smallholder farmers) to unlock the power of data and AI. Cropin Cloud, which the company says is the world’s first industry cloud for agriculture, provides predictive intelligence for over 200 million acres of farmland worldwide. Its investors include names like Google, Bill and Melinda Gates Foundation, JSR Corporation and ABC Impact among others. 

CIO Dimension caught up with Sujit Janardanan, Chief Customer & Marketing Officer of Cropin, to talk about Cropin’s story, its vision and the way forward. 

Watch the full interview here: 

Much of the company’s growth, says Sujit, can be attributed to its conscious decision to pivot away from being a point-solution provider to an ecosystem player. “Our vision is to be the backbone of the agriculture ecosystem, similar to how SWIFT is for the banking ecosystem or Amadeus for the flight booking ecosystem,” he adds. 

Cropin Cloud is a big leap in that direction. This platform envisions to bring in various stakeholders in the agricultural ecosystem – including startups who build agtech solutions and help them co-innovate. “This enables us to collectively unlock the value faster and deliver impact to businesses and farmers as soon as possible,” says Sujit. While Cropin has already helped seven million farmers, globally there are over 500 million farmers who can potentially benefit from technology. Therefore, speed is the need of the hour for the agriculture sector. “With Cropin Cloud, we are trying to help everyone move faster,” Sujit highlights. 

In this interview, he also touches upon Cropin’s plot-level predictive intelligence capabilities and forecasting models. 

Sujit, who previously led marketing at Google, AWS and NTT, will be talking at the upcoming COP28 Dubai about ‘Digital Innovations for climate-resilient agriculture’. 

The post Here’s how Cropin is building the tech backbone for global agriculture sector  appeared first on CIO Dimension.

By Lexi Croisdale, Content Marketing Manager, Varonis

Humans eat, sleep, and expose data.  

Just in the time it takes you to read this blog, your blast radius will expand meaningfully. As access to sensitive data expands in the cloud, so do the different ways it can be compromised. 

With some of your most crucial data living in the cloud environment, how can you keep it protected? Which threats should you be most concerned about? 

Let’s discuss it below:

Threat #1: Identity risk  

One of the challenges of using the cloud is the sprawl of applications that create a unique set of identities. As the cloud footprint increases, it’s a challenge for security teams to monitor and secure multiple identities in multiple spaces. 

Threat actors are also evolving and targeting users specifically through various tactics, like social engineering and compromising personal accounts. The LAPSUS$ group made headlines when they hacked major companies, including Microsoft, Okta, Samsung, Ubisoft, and Nvidia, using phone-based social engineering and SIM-swapping. The group would call IT departments and impersonate the target, bypass multifactor authentication or password resets, and gain access to the data.  

There are two steps to help determine the identities of users inside and outside of your organization who have access to your environment. Take stock of all the applications being used in your organization and understand the permissions involved within each of them.

Conduct reporting on a weekly, monthly, or quarterly basis. The metrics found in your report will identify areas that need attention, such as stale users, personal account use, a jump in external users, or more admin access being granted.

It’s also important to set parameters for offboarding employees, as stale user accounts could give former employees the ability to expose your sensitive data and give attackers an opportunity to access your environment. 

Threat #2: Configuration risk  

A multitude of cloud applications brings a multitude of configuration settings. When implementing new applications, it takes time to learn how specific settings are configured by default, what the best practices are, and to distinguish if the settings for production environments differ from sandbox or dev environments. 

Varonis Threat Labs discovered that anonymous users could exploit misconfigured Salesforce communities to potentially expose sensitive data — such as customer lists, support cases, email addresses, and more — to anyone on the internet.  At a minimum, malicious actors could exploit configurations to perform recon for spear-phishing campaigns, and at worst, they could steal sensitive information about the business, including its operations, clients, and partners. 

Many organizations don’t realize that Salesforce, or some of the other file-sharing collaboration platforms, are built by design to share data publicly and that it’s a feature, not a bug. Auditing your security configurations on a recurring basis can help minimise the amount of unwarranted access to your cloud environments. Some applications, such as Salesforce, also have built-in health checker tools that you can run manually.  

Threat #3: Third-party app risk  

Third-party apps connect to your SaaS or infrastructure applications, and this often happens without oversight from security teams because users can grant themselves permissions — often without thinking twice about the access they give these apps.   

Think of trying to sign up for the latest social networking app, and to bypass filling out a lengthy form, you can simply connect it to your Gmail account, thus opening up access to your information stored within this app.  It can be challenging to understand which apps are configured and what they have access to, which is similar to the identity risks covered in threat #1.  

You can assess how many employees are using the app and their activity levels with automation or through manual reporting. For example, users who haven’t opened a high-risk app in the last six months should have their permissions revoked to avoid breaches. You may want to disconnect the app altogether if it’s not being used.  

Continually monitoring and cleaning up your third-party app library will ease monitoring and maintaining what apps have access to your data. 

Threat #4: Cloud vulnerabilities  

Vulnerabilities in the cloud are usually not by design and could be bugs or holes in the code or application. In 2021, our research team identified a bug in Salesforce dubbed Einstein’s Wormhole, which exposed calendar events that could contain highly sensitive data such as attendee names, emails, meeting URLs, passwords, and replies being sent to organizers. Prior to the bug being patched, meeting information with potentially sensitive information was exposed to the entire internet.  

It’s important to monitor and see what’s happening inside applications, regardless of how much control you have over their coding and/or ability to fix bugs and patch appropriately. It’s also important to internally educate teams about the risks involved with applications that are beyond your security teams‘ control. 

Everyone owns a portion of the risk and should understand that the cloud is more accessible than ever. 

Threat #5: Link/permissions risks 

Most cloud applications are designed for collaboration and file sharing, which can allow end users to share data externally, organization-wide, or even create public links that could be accessible to anyone on the internet.  

While sharing links eases the ability to collaborate and distribute information, they also bring a higher risk of your data getting into the wrong hands and employees having access to information they don’t need. 

A classic example of excessive permissions mixed with an insider threat is the U.S. Pentagon document leak. A junior airman had access to classified information that he shouldn’t have had access to and while there were perimeter defenses in place to stop him from downloading the data to an external source, he was able to take pictures of the content and transcribe the information. The employee then hosted the information on a Discord server, spurring a diplomatic crisis. 

Having least privilege automation in place can help combat the risk involved with excessive permissions by revoking organization-wide, external, and public link access over time.  

The power of automation keeps your information secure and doesn’t require a heavy lift for security teams to constantly analyze link permissions for the thousands of users and files they create.  

This article was first published on Varonis website – https://www.varonis.com/blog/how-to-protect-your-cloud-environment-from-todays-top-5-threats

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Pure Storage today announced a strategic partnership with Microsoft, integrating its storage capabilities to Azure VMware Solution (AVS) – Microsoft Azure’s fully managed VMware-as-a-Service offering. 

As cloud adoption accelerates, enterprises aspire to migrate all or portions of their VMware environments – the majority of which consume block-based storage – to the cloud but are met by challenges of inconsistent storage layer management in comparison to their on-premises deployment, and an unmet need to scale compute and storage independently to match data growth. 

The expanded partnership between Pure Storage and Microsoft eliminates this barrier. By integrating Pure Cloud Block Store with Azure VMware Solution, organizations gain access to Pure’s feature set and the ability scale storage and compute independently as workload demands change.

Sudharsan Aravamuthan, Head, Systems Engineeringing, Pure Storage India, said, “Currently migrating on-premise environments to AVS is often a cost prohibitive move as enterprises are unable to decouple the storage and compute components. With Pure Storage’s block storage option on Azure, organizations can migrate their applications to the cloud without any capability trade-offs, with the ability to scale storage and compute independently based on need.

Aravamuthan added that customers will be able to leverage the offering irrespective of the existing storage infrastructure they have in their on-premise environments. AVS will continue to have VMware’s vSAN as an option along with Pure’s Cloud Block Store for customers. 

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Let’s talk numbers! An astonishing 70% of digital transformation projects reportedly fail – despite it being an all-encompassing focus for enterprises for over a decade. There could be several reasons for a digital transformation initiative to misfire. But, one of the key reasons is a ‘wrong start’, says Mani Mulki, Operating Director for Technology at Kedaara Capital and one of the topmost tech transformation gurus in the industry. 

Mani has led several transformation projects during his illustrious career as a CIO, working for many iconic brands like Tata Capital, ICICI, Godrej and Pidilite. And his biggest takeaway – digital transformation is about putting process before technology. 

In an exclusive interaction with CIO Dimension, Mani Mulki lays out the complexities of digital transformation and explores where organizations go wrong. 

Watch the full video here: 

“Most often, companies fail to understand what it really takes to digitally transform. It’s very easy to get a digital landscape in place. The tough part is doing the ‘transformation’ bit. A lot of organizations that embark on digital transformation merely automate whatever they are doing currently. Very few organizations actually question the status-quo,” he says. 

From his on-the-ground experience spearheading several digital transformation projects, Mani concludes that organizations that successfully transform themselves go back to the basics and challenge the existing processes. 

Mani has successfully amalgamated some of these best-practices to his current role, where he has the larger mandate of guiding a diversified set of Kedaara’s portfolio companies – spanning across healthcare, financial services, pharma, manufacturing and consumer tech. He works with key stakeholders of these portfolio companies in devising robust technology roadmaps that aligns tightly with the desired business outcomes. 

“I am pleased to be able to move into an influencer’s role from an operational role,” he says. 

And that’s perhaps a natural transition that every CIO seeks to make, in order to create a larger impact both within and outside the organization. 

As someone who has closely witnessed the evolution of the CIO role, Mani believes that the CIO role will disappear before long. In its stead, something more powerful will emerge. “IT was a complex function a few years ago and that’s what lent that complex credibility to the CIO or CTO title. With the advent of Cloud and other models, the use cases are more important than the technology itself. The role of a CIO or CTO will hence diffuse into that of a ‘chief transformation officer’ and the potential for that is going to be massive,” he sums up. 

Also watch:

Innovation talk: Muralidharan Ramachandran, Tech Evangelists & CIO of Startek

Shweta Srivastava, Head – IT Applications, JK Cement on the impact of LCNC on app development

Maheswaran S, Country Manager, Varonis, on shifting to data & user-centric security

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Microsoft announced Puneet Chandok’s appointment as Corporate Vice President of Microsoft India and South Asia. Effective September 1, 2023, he will assume the operational responsibilities from Anant Maheshwari.

Puneet joins Microsoft from AWS where he served as President for India and South Asia for over four years. His exit from AWS was first reported by TechCrunch in June. His predecessor Anant Maheshwari, who served as Microsoft India President for seven years, was confirmed to have resigned from the company on the 7th of July.

Puneet will oversee the integration of Microsoft’s businesses across South Asia, including Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka, further boosting the company’s presence in the region, while deepening its focus on key industries through a customer-centric approach with generative AI at its core.

Commenting on his appointment, Puneet Chandok said, “I am inspired by Microsoft’s mission to empower every person and every organization on the planet to achieve more. As India expands its own digital public infrastructure, I believe that this mission is more relevant here than ever before, and I am thrilled to be joining the One Microsoft team to make this mission a reality.”

Anant, in a heartfelt note on LinkedIn, wrote, “… After 7 years, inspired with growth mindset, it’s time for me to move forward… to a different industry, a new geography & a broader role. More details on this soon. But at this point, the one emotion that fills me is #GRATITUDE for everyone who made the last 7 years a once-in-a-lifetime experience.”

Puneet’s appointment comes at a time of continued market expansion for Microsoft. With the largest partner ecosystem globally, including a 17,000 strong network in India generating high cloud revenue, and new investments in local infrastructure including the intent to establish a new data center in Hyderabad, Microsoft’s growth aligns with India’s emergence as a global innovation hub, the company stated. 

Prior to AWS, Puneet was a Partner at McKinsey in India and Asia, and also held senior regional and global roles in IBM. Puneet holds a master’s in business administration (MBA) from the Indian Institute of Management Calcutta, a bachelor’s degree in commerce, and diplomas in Computer Programming, Networking, and High-level Computer Systems.

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Process automation SaaS company Nintex announced the appointment of Niranjan Vijayaragavan as Chief Product Officer. He brings more than two decades of technology leadership experience to Nintex, having driven product strategy, vision and execution at organizations like Microsoft, BCG, Expedia, Avalara and—most recently—at Nuna, a health-tech company, where he had a relatively short stint of 7 months.

Niranjan will work closely with the executive team and the board to help define Nintex’s product strategy and execute for scale. Process automation is being transformed through artificial intelligence, creating new opportunities for innovation and growth.

“To lead in this new era of automation and artificial intelligence requires someone with perpetual curiosity and a growth mindset,” said Amit Mathradas, Nintex CEO. “Niranjan, is a proven product leader who’s capable of building innovative products and solutions at scale.”

“Despite step changes in technology, several sectors and domains remain under-automated, impacting the pace and effectiveness of their businesses. Many SaaS companies are exploring to serve this need, but few can do it at scale in the way Nintex can,” said Niranjan Vijayaragavan, Nintex CPO. 

Nintex serves over 10,000 public and private sector organizations across 90 countries. 

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The volume of sensitive data stored in the cloud has seen a dramatic increase in the last couple of years. A full 75% of businesses globally report that 40% or more of their data in the cloud is sensitive – a number that has seen over 50 percent growth as compared to the 2021 number (49%), according to the 2023 Thales Cloud Security Study. But are businesses doing enough to protect this sensitive data? 

Despite the reported increase in sensitive data in the cloud, the study found low levels of encryption being used. Only 19% of IT professionals in India (22% globally) reported that more than 60% of their sensitive data in the cloud is encrypted. According to the findings of the survey, on average, only 45% of cloud data is currently encrypted globally.

The study that surveyed more than 3,000 IT and security professionals across 18 countries throws some more unsettling facts about the state of cloud security. 

More than a third (35%) of respondents in India have experienced a data breach in their cloud environment last year with a significantly higher global average of 46%. 

Here are a few other findings from the survey: 

• Human error was reported as the leading cause of cloud data breaches by over half of those surveyed (52% in India, 55% globally 

• More than a third (38%) respondents globally ranked Software as a Service (SaaS) applications as the leading target for hackers, closely followed by cloud-based storage (36%).

• Only 16% of those surveyed in India and 14% globally stated that they controlled all of the keys to their encrypted data in their cloud environments.

• 44% of Indian organizations expressed that managing data in the cloud is more complex than in on-premises environments. 

• Globally, 83% expressed concerns over data sovereignty, and 55% agreed that data privacy and compliance in the cloud has become more difficult.

Pathways to Better Cloud Security

Identity and access management (IAM) is a crucial measure in mitigating data breaches, emphasising the significance of strong security practices. Encouragingly, the adoption of robust multi-factor authentication (MFA) has risen to 65% globally, indicating progress in fortifying access controls.

Surprisingly, only 41% of organisations worldwide have implemented zero trust controls in their cloud infrastructure, and an even smaller percentage (38%) utilise such controls within their cloud networks

“ Considering the rising cyberthreats in India and globally, treating cloud environments as an extension of existing infrastructure while maintaining exclusive control and security of data, especially sensitive data, is key to cloud security. Another essential aspect of cyber security is customer control of encryption keys, as it allows organisations to leverage the scalability, cost efficiency, and accessibility benefits of the cloud while ensuring the utmost integrity and confidentiality of their valuable information. This becomes more critical for Indian organizations as 68% of respondents in India reported over 40% of their cloud data as sensitive,” stated Ashish Saraf, VP & Country Director – India, Thales.

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The Snowflake Summit 2023, the company’s annual user conference, witnessed a number of LLM-based announcements and a host of enhancements to the company’s Data Cloud platform. The most notable one, perhaps, is its Document AI which stems from Snowflake’s acquisition of Applica (Sept. 2022) and leverages its purpose-built, multimodal LLM.  Document AI, which is currently in private preview, will enable businesses to extract and leverage unstructured data from documents. 

Over the next five years, over 90 percent of the world’s data will be unstructured in the form of documents, images, video, audio, and more according to IDC2. This massive volume of unstructured data is routinely stored by organizations, however gaining valuable insight from it has historically required manual, error-prone processes and limited expert skillsets. Snowflake’s built-in Document AI will make it easier for organizations to understand and derive value from unstructured data and documents using natural language processing, said Murad Wagh, Director of Sales Engineering at Snowflake, while addressing the Indian media.

Some of the use case examples include the ability to easily extract content like invoice amounts or contractual terms from documents and fine-tune results using a visual interface and natural language. Snowflake is starting with Document AI and plans to expand these capabilities to more types of unstructured data.

Additionally, the company also announced updates for Iceberg Tables, which will enable organizations to work with data in their own storage in the Apache Iceberg format, whether that data is managed by Snowflake or managed externally. Snowflake also announced that its platform will support a broader set of advanced analytics capabilities including pre-built machine learning functions for SQL users (public preview), and is expanding its unified governance and privacy with new data quality metrics and classification features (both in private preview). 

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