If 2018 was the year of cloud and Kubernetes, then 2019 will most assuredly be the year that everyone in IT and security wakes up to the fact that the massive shift to cloud is killing legacy security models. With Aporeto’s Zero Trust security, we are positioned perfectly to secure this transition to cloud, which is why I’m so excited to announce our $20M in Series B funding to support the strong customer growth and go-to-market expansion plans for our Identity-Powered Security for cloud apps and networks.
Led by Comcast Ventures and several strategic and financial investors, the investment will enable Aporeto to capitalize on significant momentum in securing both cloud and hybrid environments with our infrastructure-agnostic approach to Zero Trust security. Existing investors Wing VC and Norwest Venture Partners also participated in the round.
Security breaches playing out in the news on a daily basis accentuate the struggle that organizations are having with keeping critical applications and data safe, particularly in the midst of their rapid shift to the public cloud. The increasing use of cloud-native technologies like containers, Kubernetes, service mesh and serverless add still more complexity to the challenge of securing legacy and hybrid private/public cloud environments. These strains are highlighting the shortcomings of network security that relies on IP addresses, static access control lists and threat signatures that do not scale along with DevOps, modern, automated infrastructure and advanced threats.
The market is recognizing that cloud adoption is compromising the effectiveness of last-generation network security tools designed for static data centers and IP addresses. The automation, flexibility and scale of cloud environments demand identity-based security that can adapt dynamically and secure absolutely. We’re really excited about the incredible quality of the new investors joining Aporeto and the tremendous market validation and geographic expansion that they bring to our team.
Aporeto Identity-Powered Security creates an identity-based segmentation approach that effectively implements Zero Trust security across any infrastructure at any scale. We bridge the DevOps-driven divide that is growing between network, infrastructure and security teams by offering a security automation platform that operates in context with the applications and independent of the drag of heterogeneous infrastructure. Aporeto provides the ultimate segmentation for modern applications based on cryptographic workload identity rather than IP addresses:
Besides Comcast Ventures, the investment in Aporeto also includes new investors across other important industry verticals and regions that are key to Aporeto’s value proposition and expansion plans. National Grid Partners (NGP) is the utility industry’s first Silicon Valley-based venture capital and innovation firm. NGP invests in the potential of energy with a provocative vision to define a smarter and more renewable energy future. Telia Ventures is the venture investment arm of Telia Company, the New Generation Telco headquartered in Stockholm, Sweden.
The team at Aporeto are committed to protecting customers with a Zero Trust security solution designed for the reality of today’s complex, hybrid IT environments. This will be achieved through Identity-Powered security for cloud applications, containers and microservices, an approach that ultimately results in better, simpler and more efficient security. We’re really thrilled to be working with our investors from Comcast, National Grid Partners, Telia Ventures, and of course, Norwest Venture Partners and Wing VC, to usher in the new era of cybersecurity.
Look for additional announcements in the near future on others who are instrumental in this financing and in Aporeto’s future success.