Cloud information protection company, CipherCloud today announced it has received $30 million in new funding from Andreessen Horowitz. The money will enable CipherCloud to accelerate its global go-to-market strategy with expanded sales and marketing, and further develop its offerings.
The company has 1.2 million users, 100 million customer records protected, across more than 40 customers including two of the five largest banks in the U.S., 10 industries and eight countries, explains Paige Leidig, senior vice president and chief marketing officer. The company’s go-to-market strategy is focused on multiple routes to market including both direct and channel sales; the key regions of APAC, EMEA, and North America; and key industries including financial services, government, healthcare, and technology.
CipherCloud delivers cloud encryption and tokenization gateways that secure sensitive information in real-time, before it's sent to the cloud. These solutions enable organizations to securely adopt cloud applications by eliminating concerns about data privacy, residency, security, and regulatory compliance. The CipherCloud portfolio consists of eight different commercially available products that support the most popular cloud applications in the market: Salesforce, Chatter, Force.com, Google (News - Alert) Gmail, Microsoft Office 365, and more.
“Our offerings are fast and transparent to the user, we preserve search, sort, and reporting operations within each cloud application, and the customer controls the keys,” Leidig says. “We plan to accelerate the development of new product offerings and advance our technology leadership.”
Andreessen Horowitz was among CipherCloud’s existing investors, which also include Index Ventures and T-Systems, the venture capital arm of Deutsche Telekom (News - Alert). Founded by Marc Andreessen and Ben Horowitz, Andreessen Horowitz is a venture capital firm that provides seed, venture and growth-stage funding to new technology companies. Its investing partners include Marc Andreessen, Ben Horowitz, John O'Farrell, Scott Weiss, Jeff Jordan, Peter Levine and Chris Dixon. The firm has $2.7 billion under management across three funds. Among its 170 investments are Airbnb, Apptio, Box, Fab, Facebook, Foursquare (News - Alert), GitHub, Jawbone, Lytro, Pinterest, Quirky and Twitter.
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Edited by Brooke Neuman