US-based data protection software producer Bitglass secured $70m yesterday in a series D round that featured Singtel Innov8, the corporate venturing subsidiary of telecommunications firm Singtel.
Investment firm Quadrille Capital led the round, which included Australian sovereign wealth fund Future Fund and venture capital firms Norwest Venture Partners and New Enterprise Associates (NEA).
Founded in 2013, Bitglass has developed cloud access security broker (CASB) software that helps enterprises protect data shared in the cloud and through mobile devices.
Bitglass chief executive Nat Kausik said: “Cloud adoption is disruptive of incumbents securing networks, servers and other infrastructure. Our next-gen CASB uniquely secures against data leakage and threats without installing more hardware and software.”
Future Fund had already led a $45m series C round for the company in early 2017, investing alongside Singtel Innov8, Norwest and NEA.
Singtel Innov8 and NEA had previously joined an unnamed financial services firm in the company’s $25m series B round in 2014. The deal came after NEA and Norwest had supplied $10m of series A funding for Bitglass the year before.