Cloud security co Adallom raises $30m

deal  merger  picture: photo to go

The financing round includes the first investment by Hewlett Packard Ventures.

Cloud access security company Adallom today confirmed recent reports that it had closed a $30 million financing round. The round includes a strategic investment by newly launched Hewlett Packard Ventures, new stakeholder Rembrandt Venture Partners, and previous investors Sequoia Capital and Index Ventures. Rembrandts Gerald Casilli joins the Adallom board.

Fueled by massive demand for the companys cloud security services, the funds will be used to grow the companys sales and marketing efforts, build a global network of channel partners, expand the capacity and capabilities of Adallom Labs and support ongoing product research and development. Adallom has raised $49.5 million since it was founded in 2012. Headquartered in Palo Alto, Adallom's development center is in Tel Aviv.

Adalloms unique approach to cloud security extends to SaaS applications such as Salesforce, Google Apps, Microsoft Office 365, ServiceNow, Ariba, Box and Dropbox. In addition, the company's shadow IT discovery capabilities allow organizations to assess the risk of over 13,000 cloud applications to transition key vendors towards enterprise SaaS. Adallom has been deployed by key enterprises worldwide including HP, and recently delivered integration with security services like FireEye Threat Analytics Platform (TAP) and Check Point Capsule.

Adallom co-founder and CEO Adam Rappaport said, The markets embrace of our approach to cloud security and our investors continued confidence in our products, team and results to date is a strong endorsement of Adallom. It also serves as encouragement to continue to execute on our mission to deliver the best platform for protecting data in the cloud. Were determined to exceed the expectations of our customers and investors, and continue our innovation in this market.

Hewlett Packard Ventures managing director Lak Ananth said, At Hewlett Packard Ventures, one of our focus areas is start-ups whose security solutions allow enterprises to protect their sensitive information wherever it lives, including cloud environments. This investment will help Adallom accelerate innovation and bring their trusted cloud application security platform to a global market. We look forward to continuing our relationship with Adallom, as a customer and now as a strategic investor.

Published by Globes [online], Israel business news - - on April 14, 2015

Copyright of Globes Publisher Itonut (1983) Ltd. 2015

deal  merger  picture: photo to go
deal merger picture: photo to go
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