US security startup Adallom bags $15M in Series B funding
Adallom has secured $15 million in Series B funding to boost its sales in the US and its research and development projects in Israel. The company aims to provide security for the increasing data stored in software as a service (Saas) systems, according to GigaOM.
Most security software sellers focus on perimeter defenses such as firewalls and proxies. Adallom VP of marketing Tal Klein said the company focuses on protecting data that flows into SaaS systems such as Salesforce.com, Office 365, Workday, and Google Apps. Adallom works by monitoring user behavior and warning of anomalous actions in SaaS applications, the report detailed.
Klein explained: "If someone who normally accesses 5 or 10 records at a time suddenly tries to access 2,000 records, we can identify that as a threat - either from inside or from malware."
The Menlo Park, California-based firm has partnered with Salesforce.com, SuccessFactors, Google, Box, and Microsoft for its security software, the report added.
The Series B financing was led by Index Ventures. Sequoia Capital Israel also participated in the said round. Adallom raised $4.5 million in a previous round in December 2012, GigaOM reported.