Cloud data protection and visibility leader CipherCloud today announced the finalization of $50M in funding in a round led by Transamerica Ventures. Delta Partners joined the round with additional participation from existing investors Andreessen Horowitz and T-Venture. The funding will be used to support the company’s explosive growth in verticals that include banking, healthcare, pharmaceuticals and telecommunications as noted by CipherCloud CEO Praveen Kothari in the press release announcing the funding raise. In addition to cloud data protection as represented by “encryption, tokenization, activity monitoring, data loss prevention (DLP) and malware detection,” CipherCloud specializes in monitoring of cloud users as well as the discovery of cloud-based applications used within a specific infrastructure with a view toward identifying applications that may not have been approved by the relevant organization’s IT department. The $50M funding raise validates CipherCloud’s leadership position in the cloud security market and positions it strongly to expand into markets in Europe and the Asia-Pacific. In addition to protecting cloud infrastructures, CipherCloud offers dedicated cloud protection solutions for applications such as Salesforce, Box, Microsoft Office 365, and ServiceNow.
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