CipherCloud opens European HQ in London after $30m investment

CipherCloud opens European HQ in London after $30m investment

Summary: US-based cloud security firm CipherCloud is planning to expand into EMEA after receiving a $30m investment from a venture capital firm.

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Cloud data protection company CipherCloud has announced a $30m (£18.7m) investment from venture capital firm Andreessen Horowitz.

US-based CipherCloud, whose products include cloud encryption and tokenisation gateways, said it will use the new funding to increase its sales and marketing efforts and further develop its product range. Along with Andreessen Horowitz, investors that have already backed the two-year-old company include Index Ventures, and Deutsche Telekom's venture capital arm, T-Venture.

CipherCloud currently protects 1.2 million cloud application users and 100 million customer records for more than 40 enterprise clients in eight countries.

As well as announcing the funding injection, CipherCloud on Wednesday said it has opened its European headquarters in London and plans to expand further into the UK and across the EMEA region, hoping to cash in on the increasing numbers of European organisations adopting cloud applications.

"We are expecting growth in Europe to reach 20 percent of our annual turnover in 2013," CipherCloud CEO Pravin Kothari said in a statement.

 

 

Topics: Cloud, Security, United Kingdom

Sam Shead

About Sam Shead

Sam is generally at his happiest with a new piece of technology in his hands or nailing down an exclusive story. In the past he's written for The Engineer and the Daily Mail. These days, Sam is particularly interested in emerging technology, datacentres, cloud, storage and web start-ups.

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