Bitglass Raises $45M to Advance CASB Technology

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Security vendor Bitglass is starting off 2017 by raising $45 million in a Series C round of funding. The new round included the participation of Future, NEA, Norwest, Singtel and Innov8. Total funding to date for Bitglass since the company was founded in 2013 now stands at $80 million.

"Cloud and mobile are driving business data beyond the firewall, introducing new security and compliance risks," Bitglass CEO Nat Kausik said in a statement. "Bitglass uniquely delivers real-time inline data protection in the cloud, at access, and on any device. This funding is testimony to our strong position in the market and fiscal health."

The core technology that is fueling Bitglass is the company's Cloud Access Security Broker (CASB) platform. CASB is a class of technology that aims to provide a security gateway connecting on-premises security policies with cloud application usage. With the growing use of cloud applications on mobile devices, the Bitglass technology is also finding a home on mobile devices as an alternative to traditional Mobile Device Management (MDM) solutions as well.

In a 2014 interview with eSecurityPlanet, Kausik explained that Bitglass' technology watermarks every piece of data that comes through its platform so it can be tracked.

The Bitglass CASB makes use of the Security Assertion Markup Language (SAML), as well as Microsoft ActiveDirectory to help enable its users to have a single sign-on technology to security use cloud applications.

The CASB market is a hot one, with multiple startups being snatched by larger vendors in recent years. Microsoft acquired CASB startup Adallom in September 2015 for $250 million. Security vendor Blue Coat, which is now owned by Symantec, acquired CASB vendor Elastica in November 2015.

More recently, in June 2016, Cisco acquired CASB vendor CloudLock for $293 million. In September 2016, Oracle entered the CASB market with its acquisition of startup Palerra.

Sean Michael Kerner is a senior editor at eSecurityPlanet and InternetNews.com. Follow him on Twitter @TechJournalist.

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