SANTA CLARA, CA--(Marketwired - Apr 8, 2015) - Palerra, the cloud security automation company, today announced the completion of a $17 million round of Series B financing. New investor August Capital led this round, with participation from current investors Norwest Venture Partners (NVP), Wing Venture Capital and Engineering Capital. Vivek Mehra, General Partner at August Capital has joined Palerra's Board of Directors, which also includes Norwest's Promod Haque, Wing's Gaurav Garg and Robert Lentz, former CISO of the US Department of Defense.
This news comes on the same day that Palerra announced it has been included in the Gartner Research list of "Cool Vendors" in Risk Management for 2015. For more on that news, visit: https://palerra.com/news_item/palerra-named-a-cool-vendor-by-gartner.
With Palerra, enterprises gain comprehensive threat visibility, sustainable compliance and actionable incident response for their entire cloud footprint, from branded applications such as Microsoft Office 365 to infrastructure like Amazon Web Services. Since launch, Palerra has achieved several key milestones including:
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Rapid adoption by global enterprises across financial services, high technology, consumer hospitality services and higher education including Jefferies, VMware, Wichita State University and more.
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Significant growth in its employee base with the addition of critical talent from companies such as Okta, Paypal, Oracle, and ZScaler.
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Strong partnerships with several cloud providers such as Microsoft Office 365, Amazon Web Services and Salesforce.
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Strategic global agreements with enterprise security service providers including Deloitte & Touche, iTalent Corporation and Simeio Solutions.
"Palerra's LORIC™ platform has been met with an exceptional response since becoming generally available earlier this year," said Vivek Mehra, general partner, August Capital. "Additionally, Palerra sets itself apart from other solutions by delivering on the vision of automation, while ensuring there are no changes or compromises to end-user experience. We are thrilled to partner with Rohit and his exceptional team who are delivering true innovation and delightful client experiences for security in the cloud."
"Enterprises want the benefits that the cloud has to offer, but only if they can maintain strong security," said Rohit Gupta, founder and CEO of Palerra. "The dramatic rise in adoption of cloud services by today's enterprises against the backdrop of our generation's most potent cyber threats has necessitated a new approach. LORIC was designed to meet these threats head on and this new round underscores our commitment to deliver the most powerful cloud security solution in the industry."