Cloud Security Leader Bitglass Raises $70 Million

By Dan Anderson • Apr 11, 2019

Bitglass, a Campbell, California-based Cloud Access Security Broker (CASB) company that helps enterprises move to SaaS-based and mobile deployments, announced it has raised $70 million in Series D funding from new investor Quadrille Capital. Existing investors Future Fund, New Enterprise Associates (NEA), Norwest Venture Partners and Singtel Innov8 also participated in this round.

Launched in 2013 by CEO Nat Kausik and CTO Anurag Kahol, Bitglass has been rapidly expanding globally. Including this round, Bitglass has raised more than $150 million.

This round of funding will enable Bitglass to continue its growth and leadership in the CASB market. And the company will also make its product more automated and easier to use. Along with protecting cloud services, Bitglass is partnered with endpoint security company Cylance for protecting bring-your-own-device mobile devices, according to SDxCentral.

“Cloud adoption is disruptive of incumbents securing networks, servers and other infrastructure,” said Bitglass CEO Nat Kausik in a statement. “Our Next-Gen CASB uniquely secures against data leakage and threats without installing more hardware and software.”

Bitglass’ cloud security solutions are known for delivering zero-day agentless data and threat protection for any app and any device anywhere. Over the past year, Bitglass was named a leader in Gartner’s 2018 Magic Quadrant for Cloud Access Security Brokers and earned the number one spot in The Wall Street Journal’s “Top 25 Tech Companies to Watch 2018” list.

“As businesses move to the cloud, legacy security products are obsolete,” added Quadrille Capital partner Edward Colby. “Bitglass has built a cloud-first security platform poised to dominate the market.”