WALTHAM, Massachusetts — June 12, 2014 — CloudLock, the leading cloud information security provider, today announced it has acquired the intellectual property of Innovode Ltd and hired the key team members of the Bristol, UK company behind Innovode Armor, an integrated encryption solution for Google Drive.
Similar to CloudLock, Innovode has focused on solving critical security challenges for organizations, deploying public cloud applications. The Innovode team, led by co-founders Howard Snart and Peter Spellward, has years of experience in the field of data loss prevention (DLP) and compliance. Howard and Peter pioneered market-leading products for Orchestria and CA prior to founding Innovode. CloudLock will absorb Innovode’s technology into its current offerings to further accelerate CloudLock’s product innovation and inject additional core expertise that will benefit CloudLock’s customers.
“We’re extraordinarily pleased to welcome the Innovode team to the CloudLock family,” said CloudLock CEO Gil Zimmermann. “The team shares our culture and entrepreneurial spirit. Innovode’s technology and core expertise will help us to continue to be innovative and customer-centric, helping organizations accelerate the adoption of public cloud applications securely.”
“When we first met with the CloudLock team, we saw an agile and market-leading organization that also views the cloud as an opportunity rather than a problem and cloud security as a way to accelerate business objectives rather than as a hindrance,” said Peter Spellward, co-founder of Innovode. “By joining CloudLock, we will be able to make even greater leaps in the level of security that governs cloud resident data.”
The Innovode acquisition follows CloudLock securing a Series C of funding of $16.5 million in January 2014 with the goal to fuel company growth through product acceleration, an increased investment in customer success and global expansion starting with a UK presence.
Innovode Ltd tackles disruptive cloud opportunities that prevent businesses from working in the cloud as they would like. In doing so, Innovode brings to the cloud technologies that were previously reserved for the largest organizations in the world, as a service. Based in the UK, Innovode's team of highly skilled engineers specializes in cloud-based products and services, and solving high profile, high value problems. They bring a wealth of experience from developing highly scalable business critical software systems for blue chip companies, including all the major Wall Street banks.
CloudLock is the cloud-native CASB and Cloud Cybersecurity Platform that helps organizations securely leverage cloud apps they buy and build. CloudLock delivers security visibility and control for SaaS, IaaS, PaaS and IDaaS environments across the entire enterprise in seconds. Founded by Israeli Elite Cybersecurity Military Intelligence experts, the company delivers actionable cybersecurity intelligence through its data scientist-led CyberLab and crowdsourced security analytics across billions of data points daily. CloudLock has been recognized by Inc. Magazine as the fastest growing security product company in the U.S. and by Glassdoor as one of the top 3 best places to work in the U.S. Learn more at www.cloudlock.com.
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