CipherCloud Raises $30 Million Round From Andreessen Horowitz
CipherCloud is a cloud information protection company that has raised $30 million in funding from Andreessen Horowitz. CipherCloud’s existing investors include Andreessen Horowitz, Index Ventures and T-Venture. CipherCloud will be using the new round of funding to accelerate sales and marketing. Andreessen Horowitz and former CEO of Fortify Software John M. Jack will be joining the board of directors at the company.
CipherCloud was founded in 2010 and has grown their customer base. CipherCloud protects 1.2 million cloud application users and 100 million customer records for over 40 enterprise clients across 8 countries. Their customers include some of the top companies in the banking, insurance, healthcare, and technology sector. They also have government agencies as customers.
“Security is the number one inhibitor preventing organizations from adopting cloud applications, and CipherCloud has solved this huge problem in a very elegant way,” said John M. Jack. “CipherCloud is moving up one of the fastest enterprise adoption curves I have ever seen. The combination of technology, team and market opportunity makes this a compelling investment.”
CipherCloud’s product portfolio supports Salesforce.com, Chatter, Gmail, and Amazon AWS. CipherCloud Founder and CEO Pravin Kothari was previously the co-founder and vice president of engineering at ArcSight. ArcSight sold to HP for over $1.5 billion.
“When I founded CipherCloud it was clear to me that the entire enterprise market was accelerating its move to the cloud,” stated Kothari. “Our vision has been to create solutions that enable organizations to safely and securely complete their cloud journey while maintaining a high level of security and retaining control of their information.”