Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cloud Security

Cloud Security Firm Bitglass Raises $45 Million

Bitglass, a Silicon Valley-based provider of mobile and cloud data protection solutions, today announced that it has secured $45 million in a Series C funding round.

Bitglass, a Silicon Valley-based provider of mobile and cloud data protection solutions, today announced that it has secured $45 million in a Series C funding round.

Tacking a significant amount to the $25 million raised in its Series B round in 2014, the Series C funding brings the total amount raised by Bitglass to $80 million.

The Campbell, Calif.-based Cloud Access Security Broker (CASB) says that new investment will be used to fuel expansion in the U.S., EMEA and APAC regions.

Bitglass Logo

Founded in 2013, Bitglass offers a solution designed to secure corporate data in the cloud and on mobile devices via secure BYOD. Its platform also helps organizations securely leverage cloud-based applications such as Google’s G Suite, Microsoft Office 365, Box, Slack, Salesforce and more.

“Cloud and mobile are driving business data beyond the firewall, introducing new security and compliance risks,” said Nat Kausik, CEO, Bitglass. “Bitglass uniquely delivers real-time inline data protection in the cloud, at access, and on any device.  This funding is testimony to our strong position in the market and fiscal health.”

CASBs, which provide security and visibility for companies moving to the cloud, have experienced rapid growth, with several players in the space being acquired by larger enterprise technology firms.

In June 2016, Cisco announced its intention to acquire CloudLock, a privately held cloud CASB based in Waltham, Massachusetts for $293 million in cash and assumed equity awards. In 2015, Microsoft bought Adallom and turned it into its Cloud App Security service launched in April 2016. In 2014 Imperva bought Skyfence; in 2015, Palo Alto Networks bought CirroSecure; and in November 2015 Blue Coat (since acquired by Symantec) bought Elastica.

In addition to new investor Future Fund, existing investors NEA, Norwest, Singtel Innov8 and others participated in Bitglass’ Series C funding.

Advertisement. Scroll to continue reading.

Related: Cisco’s Acquisition of CloudLock Puts Spotlight on CASB Market

Written By

For more than 15 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

People on the Move

Mike Dube has joined cloud security company Aqua Security as CRO.

Cody Barrow has been appointed as CEO of threat intelligence company EclecticIQ.

Shay Mowlem has been named CMO of runtime and application security company Contrast Security.

More People On The Move

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

CISO Conversations

SecurityWeek talks to Billy Spears, CISO at Teradata (a multi-cloud analytics provider), and Lea Kissner, CISO at cloud security firm Lacework.

Cloud Security

Cloud security researcher warns that stolen Microsoft signing key was more powerful and not limited to Outlook.com and Exchange Online.

Cyber Insurance

Cyberinsurance and protection firm Boxx Insurance raises $14.4 million in a Series B funding round led by Zurich Insurance.

CISO Strategy

Okta is blaming the recent hack of its support system on an employee who logged into a personal Google account on a company-managed laptop.

Cybersecurity Funding

2022 Cybersecurity Year in Review: Top news headlines and trends that impacted the security ecosystem

Cybersecurity Funding

Network security provider Corsa Security last week announced that it has raised $10 million from Roadmap Capital. To date, the company has raised $50...