Adallom, a US-based developer of software to protect cloud-based applications, closed a $30m series C round yesterday backed by Hewlett-Packard Ventures, the corporate venturing subsidiary of computing firm Hewlett-Packard (HP).
Venture capital firms Rembrandt Venture Partners, Sequoia Capital and Index Ventures also participated in the round.
Adallom provides both software and an on-site service that helps protect applications running in the cloud, facilitating visibility, governance and protection, and the company claims it is seamless for the end-user.
The product is used by businesses including cloud computing company Salesforce, software company Microsoft, cloud services providers Box and Dropbox, and HP.
Adallom has raised $49.5m since it was founded in 2012, the same year as Sequoia Capital and Zohar Zisapel funded its $4.5m series A round. Sequoia returned in January 2014 to invest in a $15m series B alongside Index Ventures.
The series C money will go towards increasing sales and marketing efforts, growing Adallom’s global network of sales partnerships, and the continued development of its technology. Part of the funding will also be used for the company’s dedicated research and development centre, Adallom Labs, in Israel.