Cloud security startup Ionic Security Inc. has raised $9.4 million in Series A-1 funding which is earmarked to for expansion of the company's engineering team, acceleration of sales and increasing awareness of Iconic Security's Fusion platform. The startup, previously known as Social Fortress, is looking to provide the security that will enable cloud and mobile applications that have been stymied by security concerns.
Steve Abbott , Ionic Security CEO, said that the two-year old company's solution provides identity and access management, data-centric policy enforcement and comprehensive usage auditing to provide enterprises with an high level of control over their data without using gateways. IT can administer the system through simple dashboards, a tablet-oriented UI and a correlation and policy engine.
The round was led by Kleiner Perkins Caufield & Byers (KPCB), and other round participants included Atlanta-based TechOperators and security entrepreneurs Ken Levine and Paul Judge. Ted Schlein, general partner at KPCB, and Tom Noonan, partner at TechOperators, will join the Inconic Security's board of directors.
"Security needs to change with the times," said Schlein in a statement. "Enterprises have historically secured their data through network security, endpoint protections and central identity management offerings that are no match for the complex security challenges inherent in the combination of cloud services and the rise of bring-your-own-device policies. Ionic Security addresses this challenge head-on by providing enablement, not restriction and is poised to become standard in next-generation enterprise IT infrastructure."
To learn more about Iconic Security, visit the company's website.