- Identity authorization company CloudKnox Security has announced it raised $12 million in a new round of funding
CloudKnox Security — a leader in identity authorization for hybrid and multi-cloud environments — announced recently that it raised $12 million in a new round of funding. This round of funding was led by Sorenson Ventures with participation from early investors, including ClearSky Security, Dell Technologies Capital, and Foundation Capital.
Including this round of funding, CloudKnox has raised a total of $22.75 million. And the funding will be used to further accelerate the company’s product and go-to-market plans.
CloudKnox Security also announced it made several major additions to its board and executive team. The board of directors now includes Stephen Ward, CISO at The Home Depot; Ken Elefant, managing partner at Sorenson Ventures; and Suresh Batchu, co-founder and CTO at MobileIron.
Plus the company also appointed John Donnelly as vice president of sales. Donnelly has more than 30 years of experience as a sales leader, including roles as VP of sales for MobileIron, Vontu and as a sales advisor for ClearSky Security and Wing Venture Capital.
“We’ve seen exceptional growth from customers and prospects looking to address the number one risk in their cloud infrastructure,” added Balaji Parimi, CEO and founder at CloudKnox Security. “This positioned us to pre-emptively secure another round of funding to leverage strong market adoption and accelerate our customer expansion. We’re delighted to have Sorenson Ventures join our current investors, who continue to show their commitment to our success, welcome John to our team, and Stephen and Suresh to our board.”
This investment is coming on the heels of significant triple-digit growth in 2019 largely due to rising demand from enterprise organizations looking to protect their critical cloud resources from accidental and malicious insider threats. And CloudKnox continues to add to its growing client roster while demonstrating award-winning product innovation.
“CloudKnox’s vision is compelling: enable security teams to proactively measure and mitigate the greatest risk from operating in the cloud,” added Stephen Ward. “It does so by delivering continuous detection and remediation of over-privileged identities while helping to understand and report on their cloud risk posture. I welcome the opportunity to join the board at a time of significant growth.”
CloudKnox increased the pace of product innovation with new privilege-on-demand, auto-remediation and anomaly detection capabilities, integration with AWS IAM Access Analyzer and support for VMware Cloud on AWS. And the company was also recently awarded two patents: the first for activity-based access control in heterogeneous environments; and the second for a method and system to detect a discrepancy in infrastructure security configurations.
“CloudKnox’s exceptional growth demonstrates its value in delivering activity-based control through easily consumable data that makes it simple to take immediate action within the platform and significantly reduce insider risk,” explained Elefant. “Based on our discussions with security leaders in Global 10,000 companies, there is a huge unmet need in the market for the CloudKnox solution.”
