November 19, 2014 / 12:35 PM / 5 years ago

Cloud security software maker CipherCloud raises $50 mln in financing

Nov 19 (Reuters) - Cloud security software maker CipherCloud said it raised $50 million financing from Transamerica Ventures, Delta Partners, and existing investors Andreessen Horowitz and T-Ventures.

CipherCloud said it would use the financing to develop more products and expand internationally.

The company’s products enable users to secure data by encryption across multiple cloud applications such as Inc, Google Inc’s Gmail and Microsoft Corp’s Office 365.

Cybersecurity companies such as FireEye Inc, Fortinet Inc and Palo Alto Networks Inc are benefiting from higher spending following high-profile attacks on companies such as Target Corp, Home Depot Inc and JPMorgan Chase & Co.

Governments and businesses subscribe to cybersecurity products to monitor, alert and act against hacking into company networks. (Reporting By Arathy S Nair in Bangalore; Editing by Joyjeet Das)

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