{"id":14154,"date":"2019-02-06T15:44:04","date_gmt":"2019-02-06T15:44:04","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/varmour-a-security-startup-focused-on-multi-cloud-deployments-raises-44m.html"},"modified":"2019-02-06T15:44:04","modified_gmt":"2019-02-06T15:44:04","slug":"varmour-a-security-startup-focused-on-multi-cloud-deployments-raises-44m","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/varmour-a-security-startup-focused-on-multi-cloud-deployments-raises-44m.html","title":{"rendered":"vArmour, a security startup focused on multi-cloud deployments, raises $44M"},"content":{"rendered":"

As more organizations move to cloud-based IT architectures, a startup that\u2019s helping them secure that data in an efficient way has raised some capital. vArmour<\/a>, which provides a platform to help manage security policies across disparate public and private cloud environments in one place, is announcing today that it has raised a growth round of $44 million.<\/p>\n

The funding is being led by two VCs that specialise in investments into security startups, AllegisCyber and NightDragon.<\/p>\n

CEO Tim Eades said that also participating are \u201ctwo large software companies\u201d as strategic investors that vArmour works with on a regular basis but declined to name them. (You might consider that candidates might include some of the big security vendors in the market, as well as the big cloud services providers, as two possibilities.)\u00a0This Series E brings the total raised by vArmour to $127 million.<\/p>\n

When asked, Eades said that the company would not be disclosing its valuation. That lack of transparency is not uncommon among startups, but perhaps especially should be expected at a business that operated in stealth for the first several years of its life<\/a>. However, according to PitchBook<\/a>, vArmour was valued at $420 million when it last raised money, a $41 million round in 2016<\/a>.<\/p>\n

That would put the startup\u2019s valuation at $464 million with this round, if everything is growing at a steady pace, or possibly more if investors are keen to tap into what appears to be a growing need.<\/p>\n

That need might be summarised like this: we\u2019re seeing a huge migration of IT to cloud-based services, with public cloud services set to grow 17.3 percent in 2019. A large part of those deployments \u2014 for companies typically larger than 1,000 people \u2014 are spread across multiple private and public clouds.<\/p>\n

This, in turn, has opened a new front in the battle to secure data.\u00a0\u201cWe believe that hybrid cloud security is a market valued somewhere between $6 billion and $8 billion at the moment,\u201d said Eades.<\/p>\n

Many organizations are storing information and apps across multiple locations \u2014 between seven and eight data centers on average for, say, a typical bank, Eades said \u2014 and while that may help them hedge bets, save money and reach some efficiencies, but the lack of cohesion also opens to door to security loopholes.<\/p>\n

\u201cOrganizations are deploying multiple clouds for business agility and reduced cost, but the rapid adoption is making it a nightmare for security and IT pros to provide consistent security controls across cloud platforms,\u201d said Bob Ackerman, Founder and Managing Director at AllegisCyber, in a statement. \u201cvArmour is already servicing this need with hundreds of customers, and we\u2019re excited to help vArmour grow to the next stage of development.\u201d<\/p>\n

vArmour is among the companies \u2014 Cisco and others are also competing with it \u2014 that are providing a platform to take something that is somewhat messy \u2014 disparate security policies covering disparate containers and apps \u2014 and handle it in a more cohesive and neat way by providing a single way to manage and provision compliance and policies across<\/a> all of them. This not only helps to manage the data but potentially can help halt a breach by letting an organization put a stop in place across multiple environments.<\/p>\n

\u201cFrom my experience, this is an important solution for the cloud security space,\u201d said\u00a0Dave DeWalt, founder of NightDragon, in a statement. \u201cWith security teams now having to manage a multitude of cloud estates and inundated with regulatory mandates, they need a simple solution that\u2019s capable of continuous compliance. We haven\u2019t seen anyone else do this as well as vArmour.\u201d<\/p>\n

Eades said that the big change in the last couple of years for vArmour is that, as cloud services have grown in popularity, it has been putting in place a self-service version of the main product, which it sells as the vArmour Application Controller, aimed at smaller organizations. It\u2019s also been leaning heavily on channel partners (Telstra, which led its last round, is one strategic of this kind) to help with the heavy lifting of sales.<\/p>\n

vArmour isn\u2019t disclosing revenues or how many customers it has at the moment, but Eades said that it\u2019s been growing at 100 percent each year for the last two and has \u201cway more than 100 customers,\u201d ranging hospitals and churches through to \u201c8-10 of the largest service providers and over 25 financial institutions.\u201d At this rate, he says that plan will be to take the company public in the next couple of years.<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/syCYTJeNp7o\/<\/p>","protected":false},"excerpt":{"rendered":"

As more organizations move to cloud-based IT architectures, a startup that\u2019s helping them secure that data in an efficient way has raised some capital. vArmour, which provides a platform to <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-14154","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t