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Shasta Ventures leads $25.5m CloudPassage Series C round

13 Feb 2014

cloudShasta Ventures has led a $25.5m Series C financing round for software security company CloudPassage.

New investors Meritech Capital Partners and Seagate CEO Stephen Luczo also took part in the financing round, which the company said it would use to expand its sales and marketing.

The latest round brings CloudPassage’s total funding to $53m.

Shasta managing director Jason Pressman said, “Security continues to be the number one barrier to cloud adoption, but legacy security tools haven’t been able to adapt to address these concerns.

“Businesses are moving to the cloud at an incredible rate with most forecasts running at 30 percent or higher compound annual growth rates, and security must keep pace.

“CloudPassage is the only company that is helping organizations make that transition seamlessly, while delivering the security and compliance that they demand.”

Luczo added, “Cloud security will be a multi-billion dollar market in just a few short years, and CloudPassage has an amazing first-mover advantage.

“CloudPassage has developed an innovative platform that is purpose-built for the cloud. Its rapid growth and increasing adoption among large enterprises serves as validation the company has the right approach to cloud security.”

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