Cloud data security company Porticor has closed a $2 million financing round led by Lazarus Israel Opportunities Fund and Glilot Capital Partners.
Porticor delivers a cloud-based data encryption solution that infuses trust into the cloud and keeps cloud data confidential. Porticor said that it will use the investment funds to accelerate development, continue building its lead with compliance-oriented industries, extend service to additional infrastructure clouds, and grow the ecosystem of third-party partners.
The company, which was founded in 2010 by CEO Gilad Parann-Nisanny, CTO Yaron Sheffer and VP sales and marketing Ariel Dan, delivers easy-to-use and scalable security solutions for cloud encryption and key management. Porticor is based in Ramat Hasharon north of Tel Aviv.
Lazarus Israel Opportunities Fund partner Brian Adams said, “Porticor occupies a vital place at the intersection of several important trends: big data, infrastructure and platforms as a service, cloud-based hosting, data security, and compliance. As more and more data moves to the cloud, we expect to see enormous demand for Porticor’s unique and highly innovative solution.”
Parann-Nissany said, “Cloud security is a top concern for companies migrating to the cloud. With this round, we plan to continue to drive innovation in cloud security and provide cutting edge solutions to compliance-oriented industries, such as insurance, health, legal and utilities.”
Published by Globes [online], Israel business news - www.globes-online.com - on July 18, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013