Bitglass, a Silicon Valley-based provider of enterprise data protection solutions, today announced that it has secured $25 million in a Series B funding round.
The new injection of capital brings Bitglass’ total funding to date to $35 million, and will be used to expand sales, marketing and technology development of Bitglass’ data protection solution, the company said.
Founded in 2013, Bitglass offers a solution designed to secure corporate data in the cloud, on mobile devices and essentially anywhere online.
“Data security takes center stage in this era of cloud and mobile,” said Jeff Karras, managing director of SingTel Innov8. “Bitglass is a leader in the US and we look forward to helping them gain global momentum.”
Since emerging from stealth in January 2014, Bitglass said that it has had strong demand for its Total Data Protection solution and currently serves customers in verticals, including healthcare, financial services, manufacturing and transportation to secure BYOD and cloud applications such as Google Apps, Salesforce, Microsoft 365 and Box.
“We are honored to attract capital from investors with a first-hand understanding of the markets we serve,” said Nat Kausik, CEO of Bitglass. “The fresh capital will enable us to accelerate innovation and growth.”
Bitglass currently offers several features to help enterprises easily adopt the mobile devices and cloud apps, including:
• Cloud encryption – Bitglass enables enterprises to adopt public cloud apps while storing data encrypted in their own private cloud and offers searchable full-strength encryption technology.
• Clientless BYOD security –Bitglass secures corporate data on any device with no software agents or profiles.
• Data tracking and visibility – Bitglass’ data-centric security embeds protection directly into the data, and automatically tracks, encrypts, and redacts sensitive corporate data based on policy and context.
Bitglass is transparent to end users allowing them to access corporate data the way that they normally do, without worrying about whether IT is monitoring their personal communications, the company said.
New investors participating in the funding round include SingTel Innov8, the venture investing arm of SingTel Group, and a large global bank. Existing investors NEA and Norwest also participated in the round, Bitglass said, adding that Scott Sandell, general partner and head of NEA’s technology investing practice, will join Bitglass’ board of directors.