{"id":18356,"date":"2020-04-28T23:54:19","date_gmt":"2020-04-28T23:54:19","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/rapid7-is-acquiring-divvycloud-for-145m-to-beef-up-cloud-security.html"},"modified":"2020-04-28T23:54:19","modified_gmt":"2020-04-28T23:54:19","slug":"rapid7-is-acquiring-divvycloud-for-145m-to-beef-up-cloud-security","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/rapid7-is-acquiring-divvycloud-for-145m-to-beef-up-cloud-security.html","title":{"rendered":"Rapid7 is acquiring DivvyCloud for $145M to beef up cloud security"},"content":{"rendered":"

Rapid7<\/a> announced today after the closing bell that it will be acquiring DivvyCloud<\/a>, a cloud security and governance startup, for $145 million in cash and stock.<\/p>\n

With Divvy, the company moves more deeply into the cloud, something that Lee Weiner, chief innovation officer, says the company has been working toward, even before the pandemic pushed that agenda.<\/p>\n

Like any company looking at expanding its offering, it balanced building versus buying and decided that buying was the better way to go. \u201cDivvyCloud <\/a> has a fantastic platform that really allows companies the freedom to innovate as they move to the cloud in a way that manages their compliance and security,\u201d Weiner told TechCrunch.<\/p>\n

CEO Corey Thomas says it\u2019s not possible to make a deal right now without looking at the economic conditions due to the pandemic, but he says this was a move they felt comfortable making.<\/p>\n

\u201cYou have to actually think about everything that\u2019s going on in the world. I think we\u2019re in a fortunate position in that we have had the benefit of both growing in the past couple years but also getting the business more efficient,\u201d Thomas said.<\/p>\n

He said that this acquisition fits in perfectly with what he\u2019s been hearing from customers about what they need right now. \u201cOne area of new projects that is actually going forward is how people are trying to figure out how to digitize their operations in a world where they aren\u2019t sure how soon employees will be able to congregate and work together. And so from that context, focusing on the cloud and supporting our customers\u2019 journey to the cloud has become an even more important priority for the organization,\u201d he said.<\/p>\n

Brian Johnson, CEO and co-founder at DivvyCloud, says that is precisely what his company offers, and why it should fit in well with the Rapid7 <\/a> family. \u201cWe help customers achieve rapid innovation in the cloud while ensuring they remain secure, well governed and compliant,\u201d he said. That takes a different playbook than when customers were on prem, particularly requiring automation and real-time remediation.<\/p>\n

With DivvyCloud, Rapid 7 is getting a 7-year-old company with 70 employees and 54 customers. It raised $27.5 million on an $80 million post-money valuation, according to PitchBook data<\/a>. All of the employees will become part of the Rapid7 organization when the deal closes, which is expected to happen some time this quarter.<\/p>\n

The companies say that as they come together, they will continue to support existing Divvy customers, while working to integrate it more deeply into the Rapid7 platform.<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/yZ2UZwTkEhA\/<\/p>","protected":false},"excerpt":{"rendered":"

Rapid7 announced today after the closing bell that it will be acquiring DivvyCloud, a cloud security and governance startup, for $145 million in cash and stock. With Divvy, the company <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","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-18356","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