Bitglass Scores $70M for Cloud Access Security Broker Tech

SDxCentral | April 08, 2019

Bitglass Scores $70M for Cloud Access Security Broker Tech
Cloud security company Bitglass closed a $70 million Series D funding round bringing its total haul to $150 million. New investor Quadrille Capital and existing investors Future Fund, New Enterprise Associates (NEA), Norwest, and Singtel Innov8 participated. Bitglass CEO Nat Kausik said the new capital will be used to add more engineers and expand distribution of its cloud access security broker (CASB) product. He also sees an initial public offering (IPO) in the 6-year-old startup’s future, but said that it’s still two or three years out. “The market is certainly supportive of [an IPO],” he said. “The traditional hardware firewall is giving way to the CASB — a SaaS firewall for the cloud.” CASBs are becoming an increasingly important tool in any company’s cloud security arsenal, with Gartner forecasting that by 2022, 60% of large enterprises will use a CASB to govern some cloud services, up from less than 20% today. The technology secures an enterprise’s data running on someone else’s infrastructure by enforcing that enterprise’s security policy in the cloud. It’s important because there’s a shared responsibility model when it comes to cloud security: vendors like Amazon Web Services and Google are responsible for protecting their public cloud infrastructure, but the enterprise is responsible for protecting its workloads running on those servers.

Spotlight

Think your users and data are safe? Think again. Today's mega-trends of mobility and cloud computing not only bring great promise for IT, they offer an array of new attack surfaces for bad actors to exploit for nefarious purposes.

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Spotlight

Think your users and data are safe? Think again. Today's mega-trends of mobility and cloud computing not only bring great promise for IT, they offer an array of new attack surfaces for bad actors to exploit for nefarious purposes.