CipherCloud Raises $50M in Funding for Cloud-Based Security Platform
CipherCloud on Wednesday said it has raised $50 million in funding to reinforce its positioning as a leader in cloud visibility and data protection space.
The San Jose, California-based cloud security solutions company said it plans to use the funding to assist with accelerating go-to-market activities, supporting international growth, driving the adoption of its cloud-based security platform in the enterprise, and advancing product innovation efforts.
CipherCloud’s product portfolio aims to protect popular cloud applications such as Salesforce, Box, Microsoft Office 365, and ServiceNow by focusing its efforts on cloud application discovery and risk assessment, data protection, and user activity.
Transamerica Ventures led the Series B financing round, with participation from Delta Partners, and existing investors Andreessen Horowitz and T-Venture, the venture capital arm of Deutsche Telekom. These additional funds bring the company’s total funding to date to approximately $81 million.
CipherCloud CMO Paige Leidig believes both cloud and security are growing spaces for the channel. “They are the trusted advisors to companies who are looking for solutions to enable them to adopt cloud, one of the greatest shifts in technology,” he told Talkin’ Cloud.
“CipherCloud’s technology provides enterprises visibility into all cloud applications in their ecosystem and security and monitoring controls that allow them to use the cloud,” Leidig.
“Our partners can look forward to more channel go-to-market activities with our team,” he said. “On the technology side, the funding will help us accelerate the speed of our product innovation and continue to broaden and deepen our platform offerings.”