Bitglass, a US-based developer of data protection technology for businesses, raised $25m yesterday in a series B round that included SingTel Innov8, the corporate venturing arm of telecommunications company SingTel.
The round also featured a large unnamed bank and venture capital firms New Enterprise Associates and Norwest Venture Partners, the two investors in Bitglass’ $10m series A round in March 2013.
Founded in California in early 2013, Bitglass operated in stealth until January 2014. The company produces software that can protect data in the cloud, on mobile devices and anywhere else online.
“Data security takes centre stage in this era of cloud and mobile,” said Jeff Karras, SingTel Innov8’s managing director. “Bitglass is a leader in the US and we look forward to helping them gain global momentum.”
Bitglass intends to use the capital to expand its sales and marketing, as well as the technological development of its Total Data Protection system.