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Cloud Security Vendor Bitglass Secures $70 Million in Growth Capital

Bitglass, a cloud security leader delivering data and threat protection to enterprises worldwide, today announced $70 million in Series D funding from new investor Quadrille Capital and existing investors Future Fund, New Enterprise Associates (NEA), Norwest and Singtel Innov8. This infusion of capital will enable Bitglass to continue its growth and leadership of the Cloud Access Security Broker (CASB) market.

"As businesses move to the cloud, legacy security products are obsolete," said Edward Colby, partner, Quadrille Capital. "Bitglass has built a cloud-first security platform poised to dominate the market."

Bitglass was founded in 2013 and continues rapid global expansion in its roster of customers and partners. In the past year, Bitglass was named a Leader in Gartner's 2018 Magic Quadrant for Cloud Access Security Brokers, earned the number one spot in The Wall Street Journal's "Top 25 Tech Companies to Watch 2018" list, and was recognized as one of the 100 Coolest Cloud Computing Vendors of 2018 by CRN, a brand of The Channel Company. Additionally, Bitglass' Altitude Program was listed in the 2019 CRN Partner Program Guide as one of the strongest channel partner programs for technology and services.

"Cloud adoption is disruptive of incumbents securing networks, servers and other infrastructure," said Nat Kausik, CEO of Bitglass. "Our Next-Gen CASB uniquely secures against data leakage and threats without installing more hardware and software."

Published Monday, April 08, 2019 9:39 AM by David Marshall
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