Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cloud Security

HyTrust Acquires DataGravity, Raises $36 Million

Cloud security firm HyTrust today announced that it has acquired data visibility and security company DataGravity, and raised $36 million in a new funding round.

Cloud security firm HyTrust today announced that it has acquired data visibility and security company DataGravity, and raised $36 million in a new funding round.

Terms of the acquisition have not been disclosed, but members of the DataGravity team will join HyTrust. By acquiring DataGravity, HyTrust hopes to further enhance its security policy enforcement capabilities for cloud workloads through new data discovery and classification expertise.

DataGravity, which in the past years managed to raise a total of $92 million, exited stealth mode in 2014 when it launched Discovery, a platform that provided data security, and search and discovery capabilities. The company later released the DataGravity for Virtualization virtual appliance.HyTrust acquires DataGravity

HyTrust’s decision to acquire DataGravity comes shortly after Forrester estimated that the global cloud security market will increase to $3.5 billion by 2021, which represents an annual growth rate of 28 percent.

“The acquisition will accelerate the expansion of HyTrust’s platform capabilities and capitalize on the high-growth cloud security market,” said Eric Chiu, co-founder and president of HyTrust. “DataGravity’s data discovery and classification capabilities support HyTrust’s mission to deliver a security policy framework that provides customers with full visibility, insight and enforcement of policy across workloads. We couldn’t be more excited.”

HyTrust also announced that it has closed a $36 million funding round led by investment firm Advance Venture Partners (AVP), which brings the total raised by the company to $100 million. Sway Ventures, Epic Ventures, Vanedge Capital, Trident Capital, and strategic investors Cisco, Fortinet, Intel and VMware also participated.

Part of the $36 million have been used to acquire DataGravity and the rest will go towards expanding sales and marketing efforts, and funding new product development.

“HyTrust is very well positioned to capitalize on a tremendous growth opportunity in the cloud security space,” said David ibnAle, founding partner at AVP. “The need for security, automated compliance and policy enforcement for cloud infrastructure and data is critical in almost every industry, and HyTrust is front and center in this field. Gartner’s recent highlighting of the sector as a top security technology for 2017 underscores the relevance of HyTrust’s solutions, and we are extremely excited about the opportunity to back the market leader in this space.”

Related: HyTrust Secures $33 Million to Expand Cloud Security Business

Advertisement. Scroll to continue reading.

Related: HyTrust Names Intel, Fortinet as Investors in $18.5 Million Funding Round

Related: HyTrust Receives Investment from CIA’s Venture Capital Arm

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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

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.

Data Protection

The cryptopocalypse is the point at which quantum computing becomes powerful enough to use Shor’s algorithm to crack PKI encryption.

Cybersecurity Funding

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

CISO Strategy

SecurityWeek spoke with more than 300 cybersecurity experts to see what is bubbling beneath the surface, and examine how those evolving threats will present...

CISO Conversations

Joanna Burkey, CISO at HP, and Kevin Cross, CISO at Dell, discuss how the role of a CISO is different for a multinational corporation...

Artificial Intelligence

The CRYSTALS-Kyber public-key encryption and key encapsulation mechanism recommended by NIST for post-quantum cryptography has been broken using AI combined with side channel attacks.

CISO Conversations

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