Adallom Receives $30 Million in Funding
Cloud access security broker Adallom has received an additional $30 million in new funding to expand its sales and marketing efforts, grow its partner ecosystem and fuel the company’s product research and development.
Cloud access security broker Adallom has received an additional $30 million in new funding to expand its sales and marketing efforts, grow its partner ecosystem and fuel the company’s product research and development.
The company cited “massive demand for its cloud security services” as the driver for its Series C funding campaign. Adallom has raised $49.5 million since the company’s inception in 2012, according to the announcement.
“The market’s embrace of our approach to cloud security and our investors’ continued confidence in our products, team and results to date is a strong endorsement of Adallom. It also serves as encouragement to continue to execute on our mission to deliver the best platform for protecting data in the cloud,” said Assaf Rappaport, co-founder and CEO of Adallom, in a statement. “We’re determined to exceed the expectations of our customers and investors, and continue our innovation in this market.”
Adallom’s cloud security solutions are used in software-as-a-service applications including Salesforce (CRM), Google (GOOG) Apps, Microsoft (MSFT) Office 365 and more, according to the company. Adallom has also used shadow IT discovery capabilities to help companies mitigate cloud risks and works closely with enterprises such as Hewlett-Packard (HPQ), FireEye and Check Point Software (CHKP).
The cloud access security broker received funding from several investors, including Hewlett-Packard Ventures, Rembrandt Venture Partners and several of its previous stakeholders. Rembrandt’s Gerald Casilli will join the Adallom board as part of the company’s funding.
“At Hewlett-Packard Ventures, one of our focus areas is startups whose security solutions allow enterprises to protect their sensitive information wherever it lives, including cloud environments,” said Lak Ananth, managing director of Hewlett-Packard Ventures. “This investment will help Adallom accelerate innovation and bring their trusted cloud application security platform to a global market. We look forward to continuing our relationship with Adallom, as a customer and now as a strategic investor.”
In January, Adallom introduced its global channel partner program to help cloud service providers protect their SaaS-based solutions. The company promised to differentiate itself from similar partner programs by only aligning with best-of-breed partners interested in forming long-term relationships.
