Ionic Security Secures $25.5 Million in Series B Funding
ATLANTA–February 20, 2014–Ionic Security Inc., delivering the first comprehensive distributed data security platform for the enterprise, today announced it has secured $25.5 million in venture funding. The round was co-lead by Google Ventures and Jafco Ventures with participation from existing investors Kleiner Perkins Caufield and Byers (KPCB), ff Venture Capital, Tech Operators, Maynard Webb and well-known security titans Dr. Paul Judge, Ken Levine, and Phillip Dunkleberger.
The investment from Google Ventures and Jafco Ventures validates Ionic Security’s position as a leader in the movement to reinvent perimeter security, or lack thereof, and deliver unified security across the entire data lifecycle. Google brings the best-in-class data science, Internet scale engineering, and largest global infrastructure footprint to help the stealth security company as it prepares to enter the market. Ionic Security joins Jafco’s impressive portfolio of cloud and security companies such as FireEye, Palo Alto Networks and Huddle.
“The megatrends of mobility and cloud computing have forced enterprises to re-think how they secure their key data and assets and who is best-positioned to help them in that regard,” said Tom Mawhinney, general partner with Jafco Ventures. “The last decade was defined by securing the perimeter and our firm was fortunate to have backed companies such as Palo Alto Networks and FireEye. The next decade will be defined by getting distributed data security right, and we believe Ionic has delivered the world’s first comprehensive solution that solves this challenge.”
Ionic Security will use new funds to continue executing against its vision to address advanced security threats in a unique way unlike the traditional model of simply extending the perimeter, and building out its go-to-market strategy. This latest round of funding bringsIonic Security’s total amount raised to $38 million.
Ionic Security was founded in 2011 by a team of security innovators, including CEO Steve Abbott, formerly with PGP Corp and Forsythe Technology, and Adam Ghetti, founder and CTO, recently named on Forbes’ 30 under 30 list. The company is reinventing cloud security by delivering a unified platform which combines visibility, attribution, and granular control with massive-scale machine learning, and streaming graph analytics to provide enterprises with an unprecedented level of control of their data without the need for, or use of, gateways.
“Ionic has assembled a world-class team spanning security, enterprise software, cloud and mobility to solve the comprehensive data security challenges facing today’s enterprise,” Ted Schlein, managing partner at KPCB and renowned cyber security expert. “Their solution is unlike anything else and is poised to bring cloud security to the masses.”
“We are working with Fortune 100 customers who are looking for new ways to protect their business, in light of the cloud-enabled workforce and BYOD. Businesses need protections across the entire data lifecycle with analytics and increased visibility to help regain control ofdevices, networks and applications on their networks,” said Steve Abbott, CEO of Ionic Security. “Our company is solving the data security solution at Internet scale – on any device, any network and for any user, unlike gateway solutions, and we look forward to launching our product to a larger audience later this year.”
“One of the biggest challenges facing enterprises today is managing distributed data security at internet scale,” said Adam Ghetti, CTO of Ionic. “Not only does the Ionic platform solve this problem it is easier to manage than the traditional point-solutions they have in place today.”
About Jafco Ventures
Based in Palo Alto, Jafco Ventures is a venture capital partnership that invests in early-stage companies with great teams that demonstrate differentiated technology, compelling business models and momentum in their respective markets. The firm’s focus is to help portfolio companies efficiently scale to realize great outcomes. Jafco Ventures has had the privilege to invest in market-leading companies such as Aster Data, FireEye, 41st Parameter, Infinera, MoPub, Palo Alto Networks, and Proofpoint. To support this challenge the partnership consists of a core team of proven, early-stage venture capital investors, augmented by venture partners with best-in-classexperience in scaling companies and a world-class business development teambased in Tokyo. For more information about Jafco Ventures visitwww.jafco.com.
About Google Ventures
Google Ventures is the venture capital arm of Google Inc. We seek to discover and help develop great companies, and believe in the power of entrepreneurs to do amazing things. Our investments range from seed to late stage, across a broad range of industries, including consumer Internet, digital media, software, hardware, and biotechnology. We embrace the challenge of helping young companies grow from the proverbial garage to global relevance. For more information, visitwww.googleventures.com.
About Kleiner Perkins Caufield Byers
Since its founding in 1972, Kleiner Perkins Caufield Byers has backedentrepreneurs in more than 500 ventures including AOL,Amazon.com, Citrix, Compaq, Electronic Arts, Genentech, Genomic Health, Google, Groupon, Intuit, Juniper Networks, Netscape, Sun, Symantec, Verisign, webMD and Zynga. KPCB portfolio companies employ more than 350,000 people worldwide. More than 150 of the firm’s portfolio companies have gone public, and many other KPCB ventures have achieved success through mergers and acquisitions. KPCB focuses its global investments in three practice areas – digital, greentech and life sciences – and provides entrepreneurs with company-building expertise out of its offices in Silicon Valley, Beijing and Shanghai.
About Ionic Security
Ionic Security (formerly Social Fortress) enables the use of cloud services by protecting sensitive data anywhere it travels and wherever it resides, whether on the corporate network, in the cloud or on mobile devices. The first unified data security platform of its kind, Ionic Security takes a comprehensive approach to securing data in today’s borderless enterprise by providing access control, intellectual property monitoring, data encryption and policy management, without proxies or gateways or changes in user behavior. The company is headquartered in Atlanta, Georgia, and is backed by leading venture firms such as Kleiner Perkins Caufield Byers, TechOperators and ff VC as well as industry experts Christopher Klaus, Ken Levine, Phil Dunkelberger and Dr. Paul Judge. More information is located atwww.ionicsecurity.com.