Bitglass, a Campbell, California-based cloud access security broker (CASB) that offers data and threat protection services to enterprises, as per recent reports, has raised $70 million in a Series D funding round participated by new investor Quadrille Capital and existing investors Future Fund, New Enterprise Associates (NEA), Norwest and Singtel Innov8.
“As businesses move to the cloud, legacy security products are obsolete,” stated Edward Colby, partner, Quadrille Capital. “Bitglass has built a cloud-first security platform poised to dominate the market.”
Bitglass, founded in 2013, has since continued on its roster of the global expansion of customers and partners. Last year in 2018, the Campbell-based Bitglass was named a Leader in Gartner’s 2018 Magic Quadrant for Cloud Access Security Brokers; listed first in The Wall Street Journal’s “Top 25 Tech Companies to Watch 2018”; and was designated as one of the 100 Coolest Cloud Computing Vendors of 2018 by CRN®, a brand of The Channel Company. Furthermore, Bitglass’ Altitude Program was recently 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,” stated Nat Kausik, CEO of Bitglass. “Our Next-Gen CASB uniquely secures against data leakage and threats without installing more hardware and software.”