June - 2013 - issue > Venture Chakra
Skyhigh Networks raises $20 Million in Series B Funding
SI Team
Sunday, June 2, 2013
Skyhigh Networks, a cloud and IT networking services company headquartered in Cupertino, CA, has raised $2 million in Series B financing. The second round was led by Sequoia Capital, with participation from existing investor Greylock Partners. This latest round brings the total investment of the company to above $26 million. Skyhigh will use the new capital to expand its sales, marketing, and engineering teams to meet the increasing demand for its services and to extend its leadership in the cloud visibility and control market.

"Sequoia Capital's investment provides significant validation of our ground-breaking approach to addressing the previously ignored issue of shadow IT," says Rajiv Gupta, co-founder and CEO, Skyhigh Networks. "Customer demand since our launch has been tremendous, and partnering with Greylock and Sequoia will enable us to accelerate our strong growth and build the leading company in the cloud visibility and control market," adds Gupta.

Skyhigh aims to leverage the "bring your own device movement (BYOD)", which it addresses at its intersection with the thousands of services employees use but cannot afford to keep exposed to security risks.

The Skyhigh Networks Cloud Services Manager is a zero footprint, multi-tenant service that discovers, analyzes, and controls cloud services in use within an organization. The company empowers users to see all cloud services in use and their associated security, legal, and business risks. In terms of network analyzing, the firm has designed the platform to identify anomalous behavior and opportunities for consolidating subscription. The user can even enforce key security and usage policies such as access control, data encryption, and data loss prevention.
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