Cloud Security Company HyTrust Raises $12.5 Million
HyTrust is a cloud security automation company that has raised $12.5 million in Series C funding. HyTrust has announced a strategic investment and technology development agreement with In-Q-Tel (IQT), an independent / non-profit strategic investor that identifies and delivers innovative technology solutions to support the U.S. Intelligence Community. The two companies will work together to help secure virtualized and cloud infrastructures by fueling the development and enabling the expansion of support operations to meet enterprise demand.
“As powerful administrative access to virtual infrastructure and the cloud increasingly become available to a broader range of IT personnel, comprehensive controls at this administrative layer become critical to information-reliant, and global strategy-focused organizations such as federal government agencies. More than any other solution on the market today, HyTrust can help deliver audit, enforcement, and policy controls to the administrative layer, including Secondary Approval to enforce the ‘two man rule’ on key transactions,” stated HyTrust President and co-founder Eric Chiu. “Furthermore, the HyTrust solution delivers cloud control, visibility and operational readiness for mission critical workloads being run by Fortune 500 customers and other large organizations worldwide. HyTrust effectively links a diverse partner ecosystem that consists of the key players in virtualization, security, systems management, logging, risk and compliance, among others. This funding and strategic relationship with IQT enables us to deliver the right features at scale to address market opportunity and demand, while focusing on the unique requirements of multiple government agency partners.”
HyTrust works with many companies around the world to setup faster cloud adoption and virtualize their workloads in a secure fashion. By ensuring policies are automated, HyTrust is able to help companies reap the benefits of a virtualized infrastructure by lowering costs and offering more flexibility, while minimizing the risks.
HyTrust has raised $15.5 million in between their first two funding rounds. The company is expected to become profitable soon and their numbers will likely triple or quadruple this year. Revenues will be hitting double-digit millions of dollars this year.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry