Bitglass raises $25 mln in Series B funding

Data protection business Bitglass has raised $25 million in Series B funding. New investors include a large global bank and SingTel Innov8, the venture arm of SingTel Group. Existing investors New Enterprise Associates and Norwest participated in the funding round. Scott Sandell, GP and head of NEA’s technology investing practice, will join Bitglass’ board. Bitglass has raised a total of $35 million to date.

Bitglass, a leader in data protection for the enterprise, today announced it has secured $25 million in Series B funding. New investors include a large global bank and SingTel Innov8, the venture investing arm of SingTel Group, Asia’s leading communications group with over 500 million mobile customers. Existing investors NEA and Norwest participated in the round. Scott Sandell, general partner and head of NEA’s technology investing practice, will join Bitglass’ board of directors.

The capital infusion, which brings Bitglass’ total funding to date to $35 million, will be used to expand sales, marketing and technology development of Bitglass’ Total Data Protection solution. Bitglass offers the industry’s most complete solution, securing corporate data in the cloud, at access and on mobile devices.

“Data security takes center stage in this era of cloud and mobile,” said Jeff Karras, managing director of SingTel Innov8. “Bitglass is a leader in the US and we look forward to helping them gain global momentum.”

Since emerging from stealth in January 2014, Bitglass has enjoyed strong demand for its Total Data Protection solution. The company currently enables customers in every major vertical, including healthcare, financial services, manufacturing and transportation to secure BYOD and cloud applications such as Google Apps, Salesforce, Microsoft 365 and Box.

nea

Read the release here.