HyTrust Raises $18.5 Million To Facilitate Growth
September 3rd, 2013 By: John Rath
Cloud security automation provider HyTrust announced financing in the amount of $18.5 million from new investors Intel Capital and Fortinet, as well as recent investors VMware and In-Q-Tel. The new funding will support the company’s rapid growth and operations, particularly in the areas of sales and marketing, and enable continued development on the cloud security platform as well as innovations in technological areas such as Role-Based Monitoring (RBM).
“Next-generation data centers need next-generation security,” said Jeff Byrne, Senior Analyst at Taneja Group. ”As organizations seek to avoid security breaches, meet new requirements (such as the NSA’s two-man rule to restrict access to sensitive information) and address audit and risk, they’ll look toward more effective solutions, including role-based monitoring and alerting capabilities, to more quickly and accurately detect and block threats,” he explained. “The new, dynamic data center will be automated and policy-based. HyTrust’s focus on security and control, combined with growing awareness about these issues, will likely propel the company’s growth in 2013 and beyond.”
After a year of rapid growth, this round of a Series C oversubscribed financing will support continued growth of the company’s cloud security platform. The product delivers security, control, visibility, management and compliance to virtualized environments. It is also a scalable multi-tenant solution and capable of independently integrating broadly with other best-in-class virtualization or cloud platforms.
“Next-generation data centers will be virtualized, dynamic and multi-tenant,” said Michael Xie, Founder and CTO of Fortinet. ”With that, security and compliance has to be automated and policy-based to enable this software-defined data center model. HyTrust is at the very core of this movement by enabling policy enforcement and visibility for multi-tenant cloud environments. This is a great complement to Fortinet’s leading network security products to enable end-to-end security for virtualized data center environments.”
“Averting a data center disaster is top-of-mind for every chief information and security officer, and HyTrust provides complete visibility into what’s happening in cloud environments, with advancements that enable customers to identify and stop breaches before damage is done,” said Eric Chiu, President and Founder of HyTrust. “In the current environment, following widely publicized incidents like the NSA and Shionogi breaches, organizations are far more aware of the dangers of not having real-time visibility into data center operations, or the assurance that policies are automated, applied correctly and enforced. They need to know that potential threats can be contained—it’s the only way to maintain brand reputation, protect revenues and mitigate financial risk.”