Digital Guardian Secures $66 Million to Expand Data Protection Platform

Digital Guardian, a Waltham, Mass.-based data protection solutions firm, today announced that it has secured $66 million in additional financing.

The funding will be used to expand its data protection platform, which helps customers protect against advanced threats and provides data visibility and control, application whitelisting, data loss prevention (DLP) and more.

Digital Guardian’s platform extends protection across corporate networks, traditional endpoints and servers, mobile devices and cloud services.

According to the company, the additional investment will help accelerate revenue growth, continue product innovation and integration, and support growth globally.

The company added more than 100 new employees in 2015 and said it added more than 200 new customers during the year.

The security firm has several strategic technology partnerships, including agreements with Splunk, Blue Coat, HP ArcSight , IBM QRadar, and others.

Previous investors GE Pension Trust, Fairhaven Capital Partners, Loring Wolcott & Coolidge, Special Situation Funds and Brookline Venture Partners all contributed to the funding, in addition to new investors LLR Partners, Mass Mutual Ventures, and the Venture Capital Unit of Siemens Financial Services.

“The target of both insider threats and advanced cyber attacks remains the theft of sensitive data. Even the industry leading next gen firewalls cannot detect every threat so corporations must prioritize protecting the data itself from exfiltration,” said Ken Levine, chief executive officer, Digital Guardian. “We are extremely pleased to have so many high-caliber investors who recognize that requirement and the massive market need for a next generation approach to data protection. This new round of funding accelerates Digital Guardian’s ability to deliver just that.”

The company also announced that David Stienes, partner at LLR Partners, will join the Digital Guardian Board of Directors.

Digital Guardian joins several other cybersecurity firms that have raised significant funding in recent weeks.

Late last week, LookingGlass Cyber Solutions announced that it has raised $50 Million in funding, part of which was used to acquire threat intelligence firm Cyveillence. Earlier this month, Avecto, a UK-based endpoint security company, announced a $49 million investment from growth equity firm JMI Equity, while threat intelligence platform platform provider ThreatConnect announced a Series B Funding round in excess of $16 Million. In November, San Diego-based based iboss Cybersecurity announced that it had raised $35 million in a Series A funding round from investment giant Goldman Sachs. Also in November, Tenable Network Security, makers of vulnerability scanners and software solutions that help find network security gaps, announced that it has raised $250 million in a massive Series B funding round.