The market for cloud security is a hot one with multiple vendors all jockeying for both market and mind share. To gain share, typically requires money and lots of it.
Today cloud security and compliance vendor CloudPassage announced that it has completed a Series C round of funding with $25.5 million pouring into the company. The company has raised a total of $53 million since it was started in 2010. CloudPassage’s primary product platform is a technology called Halo, which is an automated platform for the delivery of security and control across public and private clouds.
In terms of why CloudPassage is now raising new money, it all has to with fueling expansion and growth.
“A winning venture financing strategy ties financing rounds to specific goals for the proceeds that prepare the company for the next phase of development and growth,” Sweet told Datamation. “The size of a round needs to be planned around capital required to execute against those specific goals, and should allow for working capital to spare.”
Sweet explained that the previous funding rounds’ goals were met with working capital to spare, as planned. This new round was raised because the company is ready to move to into an expansion and growth phase, and the $25 million target was based on planning the investments needed to meet CloudPassage’s expansion and growth objectives.
“The next phase of development is about building out world-class marketing and sales organizations and executing a go-to-market strategy that dramatically extends our position as a leader in the cloud security space,” Sweet said.
What that means is that the company will need to make heavy investments in marketing and sales personnel and activities. Sweet added that the earlier financing rounds focused on capitalizing efforts associated with technology innovation and development. The earlier rounds also helped the company to establish its productization efforts and refinement of the technology, including test marketing, and establishment of robust product-market fit.
One of the key areas of security that the CloudPassage solution helps in is that of Payment Card Industry Data Security Standard (PCI-DSS) compliance. The CloudPassage Halo solution is able to automate 75 percent of the technical infrastructure controls for PCI-DSS. According to a recent study from Verizon, PCI compliance is still a struggle for the majority of organizations.
Sean Michael Kerner is a senior editor at Datamation and InternetNews.com. Follow him on Twitter @TechJournalist
Photo courtesy of Shutterstock.
Ethics and Artificial Intelligence: Driving Greater Equality
FEATURE | By James Maguire,
December 16, 2020
AI vs. Machine Learning vs. Deep Learning
FEATURE | By Cynthia Harvey,
December 11, 2020
Huawei’s AI Update: Things Are Moving Faster Than We Think
FEATURE | By Rob Enderle,
December 04, 2020
Keeping Machine Learning Algorithms Honest in the ‘Ethics-First’ Era
ARTIFICIAL INTELLIGENCE | By Guest Author,
November 18, 2020
Key Trends in Chatbots and RPA
FEATURE | By Guest Author,
November 10, 2020
FEATURE | By Samuel Greengard,
November 05, 2020
ARTIFICIAL INTELLIGENCE | By Guest Author,
November 02, 2020
How Intel’s Work With Autonomous Cars Could Redefine General Purpose AI
ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 29, 2020
Dell Technologies World: Weaving Together Human And Machine Interaction For AI And Robotics
ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 23, 2020
The Super Moderator, or How IBM Project Debater Could Save Social Media
FEATURE | By Rob Enderle,
October 16, 2020
FEATURE | By Cynthia Harvey,
October 07, 2020
ARTIFICIAL INTELLIGENCE | By Guest Author,
October 05, 2020
CIOs Discuss the Promise of AI and Data Science
FEATURE | By Guest Author,
September 25, 2020
Microsoft Is Building An AI Product That Could Predict The Future
FEATURE | By Rob Enderle,
September 25, 2020
Top 10 Machine Learning Companies 2021
FEATURE | By Cynthia Harvey,
September 22, 2020
NVIDIA and ARM: Massively Changing The AI Landscape
ARTIFICIAL INTELLIGENCE | By Rob Enderle,
September 18, 2020
Continuous Intelligence: Expert Discussion [Video and Podcast]
ARTIFICIAL INTELLIGENCE | By James Maguire,
September 14, 2020
Artificial Intelligence: Governance and Ethics [Video]
ARTIFICIAL INTELLIGENCE | By James Maguire,
September 13, 2020
IBM Watson At The US Open: Showcasing The Power Of A Mature Enterprise-Class AI
FEATURE | By Rob Enderle,
September 11, 2020
Artificial Intelligence: Perception vs. Reality
FEATURE | By James Maguire,
September 09, 2020
Datamation is the leading industry resource for B2B data professionals and technology buyers. Datamation's focus is on providing insight into the latest trends and innovation in AI, data security, big data, and more, along with in-depth product recommendations and comparisons. More than 1.7M users gain insight and guidance from Datamation every year.
Advertise with TechnologyAdvice on Datamation and our other data and technology-focused platforms.
Advertise with Us
Property of TechnologyAdvice.
© 2025 TechnologyAdvice. All Rights Reserved
Advertiser Disclosure: Some of the products that appear on this
site are from companies from which TechnologyAdvice receives
compensation. This compensation may impact how and where products
appear on this site including, for example, the order in which
they appear. TechnologyAdvice does not include all companies
or all types of products available in the marketplace.