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Skyhigh Networks Secures $20M in Series B FinancingMay 30, 2013 (Close-Up Media via COMTEX) -- Skyhigh Networks, a cloud visibility and control company, announced that it has received $20M in Series B financing. According to a release, the round was led by Sequoia Capital, with participation from existing investor Greylock Partners. Aaref Hilaly, partner at Sequoia Capital, has joined Greylock's Asheem Chandna on Skyhigh Networks' Board of Directors. The company also unveiled the "30-in-30 Challenge," which guarantees participants that Skyhigh Networks will uncover at least 30 unknown cloud services in use by their organization in 30 minutes. "Sequoia Capital's investment provides significant validation of our ground-breaking approach to addressing the previously ignored issue of shadow IT," said 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." "The rapid spread of BYOD and cloud computing has led to vast numbers of cloud services being adopted, often with no involvement from corporate IT," said Hilaly. "Skyhigh sets itself apart from other security companies by giving IT a unique 'searchlight' to find these cloud services, assess the risks involved in using them, and control the confidential data stored in them -- all in a way that's respectful of the end user. We are thrilled to partner with Rajiv and his exceptional team who have a long history of delighting customers with innovative products." "Business users expose organizations to security and compliance risks when they adopt new cloud services without IT involvement," said Asheem Chandna, partner at Greylock Partners and Skyhigh Networks board member. "Skyhigh enables IT teams to reduce these risks and accelerate the safe adoption of cloud services, allowing CIOs to once again become chief enablers of their businesses." With Skyhigh, the company noted, IT departments discover, analyze, and control the cloud services used by employees on any device and from any network. In typical engagements, Skyhigh identifies over 10 times more cloud services in use than IT was aware of. "We had no comprehensive way of knowing which services were in use, where outgoing data was headed, and what risks these cloud services implied for our business," said Steve Martino, vice president, Information Security, at Cisco. "The number of cloud providers we were using was definitely an eyebrow raiser. We knew there would be a number of them, but we were surprised by exactly how many showed up." More information: www.skyhighnetworks.com ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ] |