AAA DivvyCloud drifts to $19m

DivvyCloud drifts to $19m

DivvyCloud, a US-based cloud security software developer backed by media group Discovery Communications, has secured in $19m in a funding round led by Providence Strategic Growth Capital Partners.

Providence Strategic Growth, an affiliate of private equity firm Providence Equity Partners, was joined by MissionOG and RTP Ventures. The round increased the company’s overall funding to $29m.

Founded in 2013, DivvyCloud has developed software that helps organisations protect their public and private cloud infrastructure from security threats while ensuring regulatory compliance.

The funding will go to bolstering the company’s product offering and financing its sales and marketing efforts as it looks to integrate its product with third-party suppliers. Brian Shin, managing director of Providence Strategic Growth, has joined its board of directors in conjunction with the round.

RTP Ventures had previously led a $6m round for DivvyCloud in 2017 that followed an undisclosed amount from Discovery in 2016 which took the company’s total funding at the time to more than $3m. Its other existing investors include CIT Gap Funds and Core Capital Partners.

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