CloudPassage Funding Hits $53 Million
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Last week, cloud security and compliance vendor CloudPassage announced that it has completed a Series C round of funding with $25.5 million pouring into the company. The company has raised a total of $53 million since it was started in 2010. CloudPassage's primary product platform is a technology called Halo, which is an automated platform for the delivery of security and control across public and private clouds.
In terms of why CloudPassage is now raising new money, it all has to with fueling expansion and growth.
"A winning venture financing strategy ties financing rounds to specific goals for the proceeds that prepare the company for the next phase of development and growth," Sweet told Datamation. "The size of a round needs to be planned around capital required to execute against those specific goals, and should allow for working capital to spare.