CloudLock, a Waltham, Massachusetts-based firm that helps companies secure data stored in the cloud, today announced that it has secured $8.7 million in a Series B funding round.
The latest cash injection comes from new investor Ascent Venture Partners along with existing investor Cedar Fund, and will be used to expand the company’s engineering divisions, extend its solutions to new platforms, and accelerate the company’s global sales efforts. The company said it would focus much of its employee growth in its new headquarters located in Waltham, Mass.
CloudLock offers enterprise security solutions for cloud services including Google Docs, Office 365, and others. The company claims over one million users under license to its Security-as-a-Service subscription offering, and has partnered with several cloud VARs and resellers as it looks to continue growth in 2012.
“As more enterprises move their sensitive data to the cloud, we will continue to build on CloudLock’s core governance, risk management and compliance features to help customers cost-effectively extend their data security to their cloud data repositories,” said Gil Zimmermann, co-founder and CEO, CloudLock. “This funding will help us continue to attract the premier talent that are looking for the opportunity to lead the charge in the fast- growing Security-as-a-Service market”
Luke Burns, Partner with Ascent Venture Partners, is leading Ascent’s investment in CloudLock and will join the Company’s Board of Directors.