AppGuard secures $30 million in Series B funding

The cybersecurity firm will use the cash to complete the acquisition of KeepTree.

AppGuard has closed a Series B funding round, securing $30 million to increase growth in the enterprise and SMB markets.

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On Thursday, AppGuard said the latest financing round, led by Japan's JTB Corporation, has raised enough to complete the acquisition of KeepTree, first announced back in 2013.

KeepTree is a secure video communication technology provider which also works with the US military to provide a free communication platform for soldiers called TroopTree.

The agreement will see KeepTree's FutureSend technology, used to record and schedule video delivery, integrated with Blue Planet-works' secure communication platforms.

In addition to wrapping up the acquisition, the endpoint protection firm said the cash injection will be used to increase AppGuard's brand awareness in both enterprise and SMB markets.

Chantilly, VA-based AppGuard has managed to secure a total of $100 million in investment to date.

A Series A funding round, completed in April this year, contributed over $65 million to AppGuard's parent company, Blue Planet-works, and was raised by a consortium of investors including ANA Airlines, Dai Ichi Life Insurance, and Dentsu. This funding was earmarked for a brand relaunch.

According to AppGuard, KeepTree CEO Jon Loew has also been appointed as the new chief executive of AppGuard, and will also serve as Global CMO and Board Director of parent company Blue Planet Works.

Other KeepTree executives will also be joining the team.

"Today's sophisticated security threats have rendered traditional detection-based security software virtually useless and has forced the world to look for revolutionary new endpoint security solutions like AppGuard." said Loew. "AppGuard's dynamic isolation approach to cyber security is the definition of disruptive. There isn't a large enterprise out there who wouldn't benefit from our technology."

Earlier this month, Vantiv finalized the acquisition of payment processing company WorldPay in a deal worth $10.4 billion.

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