Enterprise cloud adoption is creating an increasingly large and competitive cloud data security market, which can be daunting for the organization just beginning to take the cloud (or cloud security) seriously. So many vendors promise the sky. How do you know which ones have what it takes to deliver?
One way to know is to look at who the investors are betting on. That’s why we are proud to announce that we have closed $50 million in financing. Transamerica Ventures and Delta Partners joined our existing investors Andreessen Horowitz and T-Venture in giving CipherCloud a major vote of confidence and the resources to both advance our innovations in cloud visibility and data protection and to support our go-to-market and growth efforts worldwide.
The backing we have received from our investors is significant for several reasons. Firstly, it acknowledges the real and pressing need that CipherCloud data protection services fill in the market: “Increasing the uptake of the cloud increasingly bangs against enterprises’ needs for strong security and governance controls,” Ben Kepes wrote for Forbes, adding that “that is precisely the area that CipherCloud and its competitors work in.”
It’s becoming clear that organizations can no longer rely on infrastructure-based and systems- or endpoint-based security solutions alone for their data protection needs. The ever-increasing movability of data means that it often travels beyond the perimeters of the enterprise data center, onto third party infrastructures that are outside enterprise control. The heavy virtualization investments that cloud services providers often make can further complicate matters by liberating data from the confines of specific hardware. In today’s environment, the only way to ensure cloud data security is to secure the data itself. That has long been CipherCloud’s approach, an approach which our customers and investors continue to validate.
Meanwhile, what sets our portfolio apart from other vendors in the cloud data security market is the end-to-end protection it provides. Kepes wrote:
The CipherCloud product covers a number of different areas including ensuring that data protection policies are enforced, the prevention of unauthorized user access to data and data loss prevention, searchable strong encryption, tokenization, and key management. The platform also ensures compliance and protects against data breaches and insider threats, through data and user activity analysis and anomaly detection.
This holistic approach is critical to keeping data safe in cloud and multi-cloud environments, which are becoming extremely common in the enterprise.
It always feels good to hear from others that you’re doing things right. Since our inception, we have been focused on strongly securing enterprise data while preserving cloud application functionality in order to enable businesses to make the fullest and safest possible use of the cloud. It’s an approach that our customers, who range from top US banks, to global telcos, to large government agencies, embrace. This latest round of funding shows that investors also recognize us as being true leaders in the cloud data security and visibility arena. We look forward to growing our footprint and our influence in the marketplace.