San Francisco-based CloudPassage bags $25.5M in new funds

By Nicel Jane Avellana

Feb 13, 2014 11:05 PM EST

Cloud security firm CloudPassage has secured $25.5 million in a new funding round led by Shasta Ventures. The round was also participated in by Meritech Capital Partners and Seagate Chief Executive Officer Stephen Luczo. The San Francisco-based company's existing backers Tenaya Capital, Benchmark Capital and Musea Ventures also contributed to the round. CloudPassage has raised $53 million so far.

CloudPassage was co-founded by Carson Sweet a few years ago. Because he likened the cloud as the new Wild West, the aim of the startup is "keeping the bad guys out of clouds." Providing cloud security has become good business for the firm that saw revenue growth in the triple digits last year and increased its client base with 50 new customers, the report said.

In an interview with VentureBeat, Sweet said, "The goal last year was to really lock down the product for enterprise customers, and we've been able to do that."

The "Halo" security automation platform allows companies to protect their data and stay compliant in public or private cloud environments. The platform provides features that include server security configuration, intrusion detection, host-based firewalls, server account auditing and event reporting and alerting. So far, CloudPassage has poured $20 million to develop the technology in the past three years, working across technologies like Amazon Web Services, Rackspace, Windows Azure and VMware, among others, the report said.

Sweet said that the support they got from various vendors, done in conjunction with quick deployments, has been very important for his company. While customers could start with Amazon EC2, their growth eventually leads them to multiple public clouds and CloudPassage has the capability to follow them in these services, the report said.

CloudPassage safeguards around 400 cloud application deployments for about 100 clients. Sweet revealed that some customers pay a few thousand dollars each year while the bigger customers fork out up to half a million dollars for their service, the report said.

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics