The latest round includes new investor Future Fund (a fund operated by the Australian government) as well as prior investors NEA, Norwest, and Singtel Innov8.
Founded in 2013, the Campbell, California-based startup is a cloud access security broker (CASB), meaning it enforces an enterprise’s security policy in the cloud and on employee devices such as smartphones. In the latter case, the company doesn’t require an agent on the device.
Among the features that might set Bitglass apart is a patented form of encryption, called Harbor, that’s searchable — meaning it can provide strong encryption that the company claims won’t mess up application performance.
The CASB space is well populated, and a few startups have been snatched up by bigger players recently. Cisco acquired CloudLock for $293 million last year, and Microsoft acquired Adallom in 2015, reportedly for $320 million.
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