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Palerra Closes $17 Million in New Funding to Fuel Cloud Security Automation
April 8, 2015
SANTA CLARA, Calif. – April 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:
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:
- Rapid adoption by global enterprises across financial services, high technology, consumer hospitality services and higher education including Jefferies, VMware, Wichita State University and more.
- Significant growth in its employee base with the addition of critical talent from companies such as Okta, Paypal, Oracle, and ZScaler.
- Strong partnerships with several cloud providers such as Microsoft Office 365, Amazon Web Services and Salesforce.
- 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.”
“As the perimeter disintegrates into a set of federated cloud-based and on-premises infrastructures, effective monitoring becomes almost impossible, unless security controls are embedded in these heterogeneous environments. This will require ‘enterprises’ to reconsider and possibly redesign their security architecture and corresponding security controls by placing those controls in the cloud.”1
Palerra joins a distinguished set of companies where Norwest, August and Wing have partnered with world-class entrepreneurs to build market-leading firms. This funding brings the total investment in Palerra to $25 million. Palerra intends to use the new capital to increase sales and marketing efforts, as well as to enhance LORIC, the first platform to combine threat detection, predictive analytics, security configuration management and automated incident response and remediation into a single solution.
To learn more about LORIC:
- Visit us online at www.palerra.com
- Join the conversation on Twitter at https://twitter.com/palerrainc
Palerra, Inc. designed LORIC™ to protect an enterprise’s entire cloud footprint from branded applications such as Microsoft Office 365 to infrastructure such as AWS, and everything in between. It combines security configuration management, threat detection, predictive analytics, and automated incident response into a single platform, delivering comprehensive visibility and ensuring continuous compliance. It does so without any hardware or software, and unlike cloud access control solutions, is not inline to critical online activities. Palerra is a privately held company funded by Norwest Venture Partners, Wing Venture Capital and August Capital and is headquartered in Santa Clara, CA. For more information, visit www.palerra.com.
Kulesa Faul for Palerra
1 Forrester Research, (Aug., 2013) Security’s Cloud Revolution is Upon Us, by Andras Cser, Ed Ferrara