December 18, 2018
The investment seeks to boost deployers of traditional and hybrid cloud environments with security services to combat cyber risks.
Weeks after cybersecurity firm Alcide raised USD 7 million in series-A funding, Israeli firm Avanan have received funding of USD 25million from current partners StageOne, Magma and Greenfield partners. With this investment, Avanan seeks to bolster enterprises with cloud-based data security systems even though they were built for physical servers.
According to Avanan, Israel is quickly evolving as a market for cloud-based products and services when it comes to data and application orchestration. With this evolution, Avanan say that enterprises need to secure their IT environments that are traditional, hybrid or even cloud-based.
By raising USD 25 million from their current investors, Avanan say that they will be able to let users choose their preferred security technology on the back of a system it uses in the cloud. They further added that customers can operate their current data security systems in the cloud, even if they were originally designated for use on physical servers.
Avanan say that they have raised a total of USD 41 million to date, including USD 14.9 million in May 2016 and seed funding in July 2014. They claim that this funding will pave the way for technology that can store data on Microsoft systems, G Suite and Stack.
Gil Friedrich, CEO at Avanan claims that companies deploying SaaS-based email and collaboration platforms understand the ways and means by which hackers penetrate their security first hand. He also believes that legacy email vendors that would adapt proxy solutions to the cloud are by no means a match to security products.
By connecting directly to the cloud, Avanan believe that they will not only deploy a faster environment for customers but also secure the same with minimum add-ons.
It will be interesting to see how Avanan make the most of this launch, following Symantec’s acquisition of Fireglass.