Adallom Secures $30 Million in Series C Growth Capital
Funds Will Fuel Global Expansion and Advanced Research to Support Skyrocketing Demand
PALO ALTO, Calif., April 14, 2015-- Cloud access security broker Adallom today announced the closure of $30 million in new funding. The round includes a strategic investment by newly launched Hewlett Packard Ventures, new stakeholder Rembrandt Venture Partners, and previous investors Sequoia Capital and Index Ventures. Rembrandt's Gerald Casilli joins the Adallom board.
Fueled by massive demand for the company's cloud security services, the funds will be used to grow the company's sales and marketing efforts, build a global network of channel partners, expand the capacity and capabilities of Adallom Labs and support ongoing product research and development. Adallom has raised a total of $49.5 million since its inception in 2012.
Adallom's unique approach to cloud security extends to SaaS applications such as Salesforce, Google Apps, Microsoft Office 365, ServiceNow, Ariba, Box and Dropbox. In addition, Adallom's shadow IT discovery capabilities allow organizations to assess the risk of over 13,000 cloud applications to transition key vendors towards enterprise SaaS. Adallom has been deployed by key enterprises worldwide including HP, and recently delivered integration with security services like FireEye Threat Analytics Platform (TAP) and Check Point Capsule.
Adallom's platform deploys seamlessly for any user, any device and on any network without requiring endpoint agents, and supports the most complete security and governance controls for data in the cloud. The combination of its advanced heuristics engine and Adallom Labs, the leading SaaS security research team, has been proven effective at detecting and stopping attacks in the cloud. Adallom has identified new malware attacks in the wild, including a Zeus variant attacking Salesforce, and detected an identity token hijacking vulnerability affecting Office 365.
"The market's embrace of our approach to cloud security and our investors' continued confidence in our products, team and results to date is a strong endorsement of Adallom. It also serves as encouragement to continue to execute on our mission to deliver the best platform for protecting data in the cloud," said Assaf Rappaport, co-founder and CEO, Adallom. "We're determined to exceed the expectations of our customers and investors, and continue our innovation in this market."
"At Hewlett Packard Ventures, one of our focus areas is start-ups whose security solutions allow enterprises to protect their sensitive information wherever it lives, including cloud environments," said Lak Ananth, Managing Director, Hewlett Packard Ventures. "This investment will help Adallom accelerate innovation and bring their trusted cloud application security platform to a global market. We look forward to continuing our relationship with Adallom, as a customer and now as a strategic investor."
"Organizations are looking for security solutions that can accelerate their move towards cloud applications. Adallom's seamless platform, its commitment to innovation and a focus on customer success have made it a clear choice for enterprises worldwide, as proven by its customer momentum," said Gerald Casilli, Rembrandt Venture Partners.
Adallom introduced its global channel sales program in January of 2015 and has already built a deep and active network of channel partners on six continents. As a result of these efforts, Adallom recently received the CRN 5 Star Award.
Founded in 2012 by cyber defense veterans, Adallom, a 2014 Gartner Cool Vendor, is a cloud access security broker which delivers visibility, governance and protection for cloud applications. Its innovative platform is simple to deploy, seamless to users, and is available as a SaaS-based or on-prem solution. Powered by SmartEngine™ advanced heuristics and backed by an elite cybersecurity research team, Adallom makes it easy to protect data in the cloud. For more information, visit www.adallom.com or follow us on Twitter @adallom.
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