Venture capitalCloud security specialist Apprity announces $8 million Series A round
Santa Clara, California-based Apprity, a stealth Cloud Security company, the other day announced an $8 million Series A round of venture capital funding. The company notes that more and more business processes and applications are being transitioned to the cloud, but that the promise of Cloud and SaaS applications, combined with trends of Mobility, Bring-your-own-Device (BYOD), and the Internet-of-Things (IoT) is constrained by multiplying cyber threats. While security vendors typically focus on providing solutions for securing the perimeter, Apprity says it focuses on the need for a modern approach to Cloud security, and is developing patent-pending technology to address today’s complex business requirements.
Santa Clara, California-based Apprity, a stealth Cloud Security company, the other day announced an $8 million Series A round of venture capital funding. The company says the capital will be used to drive product development and expand industry partnerships.
Apprity’s says its cloud security offering will allow enterprises to adopt Software-as-a-Service (SaaS) and Cloud applications with confidence.
Leading venture capital firms Norwest Venture Partners (NVP) and Wing Ventures are the principal investors. As part of this round, Promod Haque, senior managing partner of Norwest Venture Partners, and Gaurav Garg, founding partner of Wing Ventures, will join Apprity’s Board of Directors.
The announcement also represents the first Series A investment that Haque and Garg have made jointly in enterprise security since FireEye in 2005.
Apprity also announced a list of advisors and individual investors including Sohaib Abbasi, chairman and CEO, Informatica Corporation; Amit Jasuja, senior vice president, Identity Management and Java, Oracle Corporation; Hasan Rizvi, former executive vice president, Fusion Middleware and Java, Oracle Corporation; and David Schneider, senior vice president, Sales and Services, ServiceNow.
The company notes that more and more business processes and applications are being transitioned to the cloud, but that the promise of Cloud and SaaS applications, combined with trends of Mobility, Bring-your-own-Device (BYOD), and the Internet-of-Things (IoT) is constrained by multiplying cyber threats. While security vendors typically focus on providing solutions for securing the perimeter, Apprity says it focuses on the need for a modern approach to Cloud security, and is developing patent-pending technology to address today’s complex business requirements.
“As enterprises move critical business processes to the Cloud, they seek stronger protection, deeper insight and higher levels of assurance,” said Rohit Gupta, founder & CEO of Apprity.
“The Apprity team has decades of deep enterprise security experience and thoroughly understands the need for a new paradigm to support the rapid adoption of Cloud and SaaS applications. Although we will remain in stealth through development, today’s announcement speaks volumes of the confidence in what we expect to achieve.”
“Apprity exemplifies the type of company in which NVP historically looks to invest-a business at the forefront of an exciting market, a uniquely engineered solution and an experienced team that understands the strategic business needs of the market,” said Promod Haque, senior managing partner, Norwest Venture Partners. “This is a seasoned team that brings tremendous insight and experience from their decades of work with leading global enterprises, while delivering exceptional, market-leading products in the areas of data and application security & identity and access management.”
“Building a successful security company takes a different approach than other technology fields. Apprity is yet another game changer in the space,” said Gaurav Garg, founding partner of Wing Ventures. “The security market is ripe for innovation, especially within the cloud. The Apprity team brings together a pioneering approach to help enterprises accelerate their consumption of SaaS and Cloud applications with a truly differentiated product offering, under the guidance of exceptional founding leadership.”
