US-based data protection platform developer Digital Guardian raised $66m yesterday from backers including insurance firm Massachusetts Mutual Life Insurance Company and industrial product and appliance manufacturer Siemens.
The corporates, which invested through their Mass Mutual Ventures and Siemens Financial Services subsidiaries, took part in the round alongside GE Pension Trust, LLR Partners, Fairhaven Capital Partners, Loring Wolcott & Coolidge, Special Situation Funds and Brookline Venture Partners.
GE Pension Trust is managed by General Electric subsidiary GE Asset Management.
Digital Guardian’s platform is used by businesses to protect data. It spans the corporate network, traditional endpoints and servers, mobile devices and cloud applications, discovering and preventing threats to sensitive data.
The capital will support product innovation and integration, international expansion and an acceleration in revenue growth.
Ralf Schnell, chief executive of Siemens Venture Capital, said: “We closely evaluated Digital Guardian’s product capabilities, strategic roadmap, and corporate vision and were very encouraged with our results. We believe our contribution will solidify Digital Guardian’s position as today’s premier provider in next generation data protection.”
The company, previously known as Verdasys, has now raised about $130m altogether. GE Pension Trust invested $15m in a $28.9m round the company closed in 2011, and returned to lead a $12m round for it in March 2014.