PerspecSys Inc., the leader in cloud data protection solutions for the enterprise, today announced it has raised $12 million in funding co-led by new investors Paladin Capital Group and Ascent Venture Partners, and joined by return backer Intel Capital and other existing institutional investors. Together with Series A funding, this new round of financing brings the total investment in PerspecSys to over $20 million. Given the market demand, the company will use the new investment to support continued global sales and marketing expansion and technology innovation for customers across banking, insurance, government/public sector, healthcare, and manufacturing markets.
Since its founding, PerspecSys has experienced rapid growth – broadening the reach of its industry-leading Cloud Data Protection Gateway to support multiple popular cloud applications and aggressively expanding its client roster, which now includes three of the world’s largest financial institutions and one of it’s biggest multinational conglomerates. With offices in the U.S., U.K. and Canada, PerspecSys remains focused on one goal: removing the main barriers to enterprise cloud adoption — data security and control. The company developed its patent-pending, award-winning cloud data security gateway to ensure both. By leveraging industry-validated, well-vetted encryption and tokenization techniques, PerspecSys secures sensitive data while keeping it in customers’ control at all times and enabling full cloud-application functionality and performance – a combination other cloud data security solutions claim, but cannot match.
“The marketplace is shifting. Enterprises are learning that you cannot secure your data unless you fully control your data – and PerspecSys is the only company helping them solve that problem with a mature solution,” said Philip Elliot, of Paladin Capital Group, who has joined the PerspecSys board of directors.