WALTHAM, Mass. – (BUSINESS WIRE - March 27, 2012) – CloudLock, the software company securing enterprise cloud data, today announced it has raised $8.7 million in a Series B funding round from new investor Ascent Venture Partners and existing investor Cedar Fund.
The latest financing will be used to expand the company’s engineering divisions to keep up with rising customer demand, extend its solutions to new platforms and accelerate CloudLock’s domestic and international sales efforts. As one of the first Security-as-a-Service companies in the world, CloudLock is committed to investing in innovation around its core competency, cloud data security services. CloudLock will focus much of its employee growth in its new headquarters in Waltham, MA.
Luke Burns, Partner with Ascent Venture Partners, is leading Ascent’s investment in CloudLock and will join the Company’s Board of Directors. Ascent, an investor in innovative enterprise technology for more than 25 years, believes CloudLock is poised to extend its leadership position in cloud DLP, a segment of the market enjoying tremendous growth.
“Organizations moving sensitive data to the cloud are realizing the shift requires new processes for IT control,” Burns said. “Increased collaboration is a major benefit of the Cloud, but companies lose sight and control of the data being shared, both internally and externally. By helping secure Google Apps and other collaborative cloud-based applications, CloudLock is bridging a critical, emerging security gap.”
CloudLock achieved substantial growth in 2011, adding hundreds of large customers with over one million users under license to its subscription service. Last year, CloudLock also partnered with leading cloud VARs and resellers, further positioning itself for continued growth in 2012.
“While we saw tremendous growth in 2011, we’re already seeing more than double the volume of sales in 2012,” said Gil Zimmermann, co-founder and CEO, CloudLock. “As more enterprises move their sensitive data to the cloud, we will continue to build on CloudLock’s core governance, risk management and compliance features to help customers cost-effectively extend their data security to their cloud data repositories. This funding will help us continue to attract the premier talent that are looking for the opportunity to lead the charge in the fast- growing Security-as-a-Service market”
“We are excited to continue supporting CloudLock, having worked with the company’s outstanding team to develop and go to market with the industry’s first cloud document security solution,” noted Dorin Miller, member of CloudLock’s Board of Directors and Venture Partner at Cedar fund, CloudLock’s Pre-Seed, Seed investor and participant in the Series B Round. “CloudLock’s suite of cloud security solutions meets a pressing need by enterprises to secure and govern data in the cloud. We are thrilled about CloudLock’s accomplishments to date and are excited to continue supporting its growth.”
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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