Endpoint data protection specialist raises $13.5 million
As more employees carry portable devices, and as transmission and storage devices of all types proliferate throughout the organization, endpoint data protection becomes more urgent; investors bet on specialist in the field
San Francisco-based GuardianEdge, a developer of endpoint data protection for the enterprise, has completed a $10 million Series B preferred stock financing along with $3.5 million in venture debt financing, bringing the company’s total financing to date to $20 million. The equity financing was led by San Mateo, California-based Cargill Ventures, an early stage technology investment group, with participation from Thomvest Ventures, Altos Ventures, and Cardinal Venture Capital. The funding comes on the heels of a very successful year in the company’s history. “Endpoint data protection is a vital component of an enterprise’s IT security strategy, providing protection in the event of a lost or stolen mobile device,” said Monica Morse, managing director at Cargill Ventures.
As more and more employees carry with them more and more devices, organizations increasingly recognize the need to reduce or eliminate the risks associated with security breaches by securing endpoint data at rest on hard drives, moving across ports, portable storage devices, and other mobile pathways, or even at end-of-life on unneeded PCs. The company says that its Data Protection Platform is the first enterprise-class solution for managing the protection of information on endpoint devices. It consists of the GuardianEdge Data Protection Framework, which provides the required security and management services on a scalable client server infrastructure, and three core data protection applications: GuardianEdge Hard Disk Encryption, GuardianEdge Removable Storage Encryption and GuardianEdge Device Control.
In connection with the funding, Monica Morse, Managing Director at Cargill Ventures, has joined GuardianEdge’s board of directors.
