CipherCloud, a provider of cloud security solutions, announced a $50 million round of financing. Transamerica Ventures led the round, joined by Delta Partners, and existing investors Andreessen Horowitz and T-Venture, the venture capital arm of Deutsche Telekom.
This round of financing would further cement CipherCloud’s position as a prominent provider in the cloud visibility and data protection market and position the company for explosive growth in 2015 and beyond.
CipherCloud will use the new financing to further fuel its go-to-market activities, support international growth in Europe and Asia Pacific, drive the enterprise adoption of CipherCloud’s cloud security platform among enterprises, as well as advance product innovation efforts to protect the cloud against an ever growing set of risks.
“CipherCloud is successfully helping enterprises to securely adopt cloud applications with its innovative portfolio of cloud security solutions and is poised for impressive growth,” said Georg Schwegler, CEO of Transamerica Ventures. “Transamerica Ventures has strong confidence in CipherCloud, given its leadership’s track record, its growing customer base and expanding partner network.”
CipherCloud’s cloud security platform contains the following components:
- Cloud application discovery – that provides aggregated reporting and dashboards of cloud applications including understanding employee usage and behavior, whether they are using enterprise approved cloud applications or not, and the level of risk of using them and most importantly putting data into them.
- Cloud data protection – that delivers based on corporate policies, industry regulations, or country required compliance laws the maximum level of protection to all sensitive data through a combination of searchable strong encryption, tokenization and malware detection controls.
- Cloud user monitoring – that enables the tracking and identification of anomalies that help to reduce the source of risk from both of insider and external threats.
“We began our cloud security journey in 2010 by solving the cryptographer’s dilemma – enabling the breakthrough of searchable strong encryption while preserving the operations of cloud applications,” said Pravin Kothari, founder and CEO, CipherCloud. “Now four years later, CipherCloud is the clear leader in the market with over three million users and is establishing the standard for how enterprises adopt the cloud while controlling and securing their data.”