Cloud security company CloudLock has raised $16.5 million in a Series C funding round from new investor Bessemer Venture Partners, and participation of previous investors Cedar Fund, and Ascent Venture Partners.
CloudLock will use the funding to expand in new markets, invest in product lines, and grow operations in the US, Europe, and Israel.
CloudLock deals in advanced content compliance, cloud application firewalling, and location-aware cloud geo-fencing, community trust ratings, and cloud data classification.
“As corporate data begins to live on the cloud, the question of managing and securing data has become one of paramount concern. IT departments now struggle to gain the visibility and control they had when data and applications lived on-premise. That’s where CloudLock comes in.” said Bob Goodman, partner at Bessemer Venture Partners. “We think they have the right product at the right time and the right people to make Cloudlock a success.”
Since its launch in 2011, CloudLock has grown to more than 600 paying customers, with millions of end-users in those enterprises. Additionally, CloudLock has built a reseller and partner network
“The transition to cloud-based apps and collaboration forced a reset in the model for enterprise security and governance,” said Luke Burns, partner, Ascent Venture Partners. “Gil and the team at CloudLock were pioneers in this field, offering enterprise grade protection without compromising the flexibility and functionality of the cloud.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 29, 2014
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