Cloud Application and Services Security Provider Elastica Closes $30M in Series B Funding

Cloud application security provider Elastica announced on Wednesday that it has closed a $30 million Series B funding round. The funding round was led by Third Point Ventures, with participation from Mayfield Fund and Pelion Venture Partners.

As part of the funding round, Robert Schwartz from Third Point Ventures has joined the Elastica board.

Founded in 2012, Elastica is headquartered in San Jose, California and has over 130 employees. Its flagship solution is the CloudSOC platform which it launched last year to give companies transaction level security for cloud apps and services. Elastica CloudSOC inspects data coming from multiple sources, including real-time traffic, APIs, firewalls and end-devices to enable security.

According to a report by Gartner last year, Cloud Access Security Brokers (CASBs) are the primary technical means of giving organizations more control over SaaS security. This technology will become an essential component of SaaS deployments by 2017.

Elastica said it will use the investment to expand its global presence, channel sales, engineering, marketing, and research teams.

Last year, Elastica launched its CloudSOC platform and raised $6.3 million in Series A funding.

“Elastica is the kind of company we like to invest in – one that is rapidly becoming a category leader,” Schwartz said. “Elastica has very strong momentum as it fundamentally changes the way the enterprise makes usage of cloud apps secure. The company’s innovative solutions, strong management and deep bench of data scientists and researchers have enabled a new category of security for cloud apps that traditional security solutions cannot bridge.”

Elastica has opened offices in APAC, EMEA and Canada, and has more than 275 enterprise clients.

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