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Kleiner Perkins, TechOperators back $9.4m Ionic Series A

22 Apr 2013

security_lrgVenture heavyweight Kleiner Perkins Caufield & Byers has led a $9.4m Series A round for cloud and mobility security platform Ionic Security.

Atlanta-based TechOperators also took part in the round amid its attempt to gather $100m for its second fund.

Security entrepreneurs Ken Levine and Paul Judge re-upped their own commitments to Ionic through the round, which the company said would be used to accelerate sales and raise awareness of its Fusion platform.

KPCB general partner Ted Schlein and TechOperators partner Tom Noonan will join Ionic’s board of directors following the financing.

Schlein said, “Security needs to change with the times. Enterprises have historically secured their data through network security, endpoint protections and central identity management offerings that are no match for the complex security challenges inherent in the combination of cloud services and the rise of bring-your-own-device policies.

“Ionic Security addresses this challenge head-on by providing enablement, not restriction and is poised to become standard in next-generation enterprise IT infrastructure.”

Noonan added, “Ionic Security fits perfectly with TechOperators’ focus – investing in great teams solving hard problems at the intersection of cloud, mobility and analytics.

“The Fusion platform has the opportunity to massively disrupt the IT security market, as many incumbents continue to focus on outdated assumptions about enterprise infrastructures.

“Today’s new reality requires new thinking about data security – and that’s exactly what Ionic Security brings.”

Last month AltAssets revealed that early stage venture capital firm TechOperators was more than a fifth of the way to raising its second fund.

Technology Operators Fund II had gathered just over $22m from 26 LPs towards its $100m target according to a US securities filing, eclipsing the $20m it collected for its debut fund launched in 2008.

That vehicle was originally targeting between $20m and $30m to invest in early growth stage companies by providing up to $4m and relevant operating assistance.

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