Cloud security start-up rakes in $30M
At least one venture capital firm is shelling out money; after pumping millions of dollars into CMTS start-up Cohere , Andreesen Horowitz has just placed another $30 million with CipherCloud.
CipherCloud has staked out a position in cloud information protection, using encryption and tokenization gateways to protect cloud services, including Amazon Web Services (AWS). Founded in 2010, the company has more than 40 enterprise clients across eight countries. Customers include top firms in banking, insurance, healthcare and technology, as well as government agencies.
"Security is the number one inhibitor preventing organizations from adopting cloud applications, and CipherCloud has solved this huge problem in a very elegant way," said John Jack, a partner at Andreessen Horowitz, former CEO of Fortify Software and now a board member of CipherCloud.
This is Andreesen Horowitz’s second round of investment in CipherCloud. Other previous investors include Index Ventures and T-Venture, the venture capital arm of Deutsche Telekom.
The company said it plans to use the new funding to expand sales and marketing, and to further develop its cloud information protection offerings.
In addition to Amazon AWS, the CipherCloud product portfolio supports popular cloud applications, including Salesforce, Force.com, Chatter, Google Gmail and Microsoft Office 365.