Cloud solutions company Bitglass gets further $25 million in Series B from investors
(August 6, 2014) Backed by Norwest Venture Partners, New Enterprise Associates (NEA), SingTel Innov8 of the SingTel Group, and an undisclosed global bank, Bitglass reportedly received additional $25 million in Series B funding. Norwest and NEA were also among its investors in the earlier round, where it got $10 million. The company plans to use the new investment to expand sales, marketing and technology development.
Founded in 2013, Bitglass is a cloud security gateway that helps enterprises move to SaaS-based and mobile deployments securely. Existing security technologies are not suited to securing corporate data on third-party servers, since they are only limited to the corporate network perimeter. Bitglass delivers innovative technologies that go beyond the network perimeter to deliver total data protection - in the cloud, on mobile devices and anywhere on the Internet.
"Bitglass is a leader in the US and we look forward to helping them gain global momentum.", according to SingTel Innov8 managing director Jeff Karras.