UPDATED 11:16 EDT / MARCH 30 2012

NEWS

CloudLock Bags $8.7 Million Via Series B, Expands Cloud Security Portfolio

Security threats within the cloud territory are inevitable. Just like in any booming platform, the more popular you get, the more people  you attract, the more you are positioning yourself to be a potent target of cyber criminals. As the cloud turns into one of the biggest innovations of the last decade in technology, vulnerabilities are explored by opportunists. CloudLock, a cloud data security firm, knows this too well. Its enterprise-class products are directly symbiotic with cloud application providers.

During the last RSA Security Conference, the company launched a next-generation enterprise-class security for Google Apps. Developments in their portfolio include security for Google+, policy engine, safe harbor compliance and g-Cloud acceptance. CloudLock has given the industry a strong impression since then.

Their potential is gleaming, it attracted a funding via series B amounting to $8.7 million. The round by perpetrated by new investor Ascent Venture Partners and existing investor Cedar Fund. In light with the investment is the election of Luke Burns (from Ascent Venture Partners) to the Board of Directors. In an interview following the funding announcement, Burns said,

“Organizations moving sensitive data to the cloud are realizing the shift requires new processes for IT control. Increased collaboration is a major benefit of the Cloud, but companies lose sight and control of the data being shared, both internally and externally. By helping secure Google Apps and other collaborative cloud-based applications, CloudLock is bridging a critical, emerging security gap.”

On the other hand, CloudLock’s co-founder and CEO Gil Zimmermann expresses excitement over expansion of international and local sales, together with acceleration of engineering initiatives. He said,

“While we saw tremendous growth in 2011, we’re already seeing more than double the volume of sales in 2012. As more enterprises move their sensitive data to the cloud, we will continue to build on CloudLock’s core governance, risk management and compliance features to help customers cost-effectively extend their data security to their cloud data repositories. This funding will help us continue to attract the premier talents that are looking for the opportunity to lead the charge in the fast- growing Security-as-a-Service market.” Zimmermann was Entrepreneur-In-Residence at cedar Fund prior to joining CloudLock.

CloudLock is a suite of security applications that enables control of data while allowing collaboration in the cloud and cost saving benefits. The company has provided service to aid customers in data management on-premise and in the cloud. It runs on Google App engine as a Security-as-a-Service application and has established risk profiles that will identify increase or decrease of threats within the organization. Periodically, the security controls set up by CloudLock undergo audits by Google’s largest commercial and federal customers. The standards of protecting data privacy include application level auditing of all users actions, RBAC or role-based access controls, leveraging on Google App Engine’s secure run-time environment and SSO or single sign-on for authenticated access application. The framework works without having to open or read any of the content of documents or sites.

Both investors are known in the business to dedicate a portion of their money to support innovation in various enterprises. Ascent Venture Partners have been around since 1985, primarily investing on emerging technologies and startups. Meanwhile, Cedar Fund is an international venture capital that has tracks of investments in large Israel-related companies.

Cloud security can breathe another market as time progresses. A Verizon report noted that cloud and virtualized environments are more secured than on-prem. There have been other companies that are showing great deal of interest in promoting cloud security, VMware as one of the biggest names.


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