Cloud Data Protection Startup PerspecSys Lands $12M
May 10, 2013
Grazed from Datamation. Author: Pedro Hernandez.
A booming software-as-a-service (SaaS) market is causing some in the industry to turn their attention toward managing and security enterprise cloud application data. PerspecSys, a cloud data protection firm whose U.S. headquarters is located in McLean, Va., announced today that it had secured $12 million in round of Series B funding, led be Paladin Capital Group and Ascent Venture Partners. Chipmaker Intel returned contributed to the round. To date, the company has raised $20 million.
PerspecSys’ flagship product is the Cloud Protection Gateway. The technology, which sits inside the firewall or at a managed service provider, allows organizations to add an extra layer of security to public cloud applications and meet compliance requirements. Supported applications include Oracle CRM On Demand and Fusion, Salesforce.com and Xactly Incent, among several others…
The startup has gained traction in the realm of finance. PerspecSys boasts, somewhat secretively, that "three of the world’s largest financial institutions and one of [its] biggest multinational conglomerates" employ its technology. PerspecSys Cloud Protection Gateway works by "intercepting critical data before it is passed to the application in the cloud, and replacing it with a random token or encrypted value that is meaningless unless viewed via the PerspecSys gateway," according to the company…
Read more from the source @ http://www.datamation.com/cloud-computing/cloud-data-protection-startup-perspecsys-lands-12m.html