Cloud App Security Firm Elastica Raises $30 Million

[mundy.]

Elastica, a San Jose, Calif.-based provider of cloud application security solutions, today announced that it has closed a series B funding round with an investment of $30 million.

Through what the company calls its CloudSOC platform, Elastica helps companies leverage cloud applications and services in a secure and compliant fashion with no on-site software or hardware required.

Various “Elastica Security Apps” running on the CloudSOC platform deliver different solutions, including auditing of shadow IT, real-time detection of intrusions and threats, protection against intrusions and compliance violations, and investigation of historical account activity for post-incident analysis.

“The Elastica CloudSOC platform harnesses advanced data science and machine learning to deliver granular visibility of real-time traffic, advanced anomaly detection to identify threats and real-time content classification,” the company explained. “Granular policies can be created and enforced in real time to prevent data breaches, compliance violations and exposure of sensitive data."

With more than 130 employees, the company currently has more than 275 enterprise clients and offices in APAC, EMEA and Canada.

According to the company, it will use the investment to further fuel its global expansion, channel sales, engineering, marketing and research teams.

Third Point Ventures led the round, with participation from Mayfield Fund and Pelion Venture Partners.

Robert Schwartz from Third Point Ventures has also joined the Elastica board.

"Elastica is the kind of company we like to invest in -- one that is rapidly becoming a category leader," said Schwartz. "Elastica has very strong momentum as it fundamentally changes the way the enterprise makes usage of cloud apps secure. The company's innovative solutions, strong management and deep bench of data scientists and researchers have enabled a new category of security for cloud apps that traditional security solutions cannot bridge."

Sursa: securityweek.com