Bitglass Secures $25 Million in Series B Financing
Date: Monday , September 01, 2014
Bitglass, a provider of data protection solutions for the enterprise has secured $25 million in Series B funding. Bitglass offers the industry\'s most complete solution, securing corporate data in the cloud, at access and on mobile devices. Founded in 2012, even when it was emerging from stealth in January 2014, Bitglass has enjoyed strong demand for its Total Data Protection solution. The company currently enables customers in every major vertical, including healthcare, financial services, manufacturing and transportation to secure BYOD and cloud applications such as Google Apps, Salesforce, Microsoft 365 and Box.
Bitglass has delivered several disruptive innovations that are enabling enterprises to easily adopt the mobile devices and cloud apps that their business needs. It enables enterprises to adopt public cloud apps while storing data encrypted in their own private cloud. Leading cryptographers have vetted the firm\'s patent-pending searchable full-strength encryption technology. Apart from this, it also secures corporate data on any device with no software agents or profiles. In addition, Bitglass\' data-centric security embeds protection directly into the data, and automatically tracks, encrypts, and redacts sensitive corporate data based on policy and context. Finally, the firm\'s user experience is completely transparent to end users allowing them to access corporate data the way that they normally do, without worrying about whether IT is monitoring their personal communications.
The capital infusion, which brings Bitglass\' total funding to date to $35 million, will be used to expand sales, marketing, and technology development of Bitglass\' Total Data Protection solution. New investors include a large global bank and SingTel Innov8, the venture-investing arm of SingTel Group, Asia\'s leading communications group with over 500 million mobile customers. Existing investors NEA and Norwest participated in the round as well.
\"We are honored to attract capital from investors with a first-hand understanding of the markets we serve,\" says Nat Kausik, CEO of Bitglass. \"The fresh capital will enable us to accelerate innovation and growth.\"