Investment vehicles for insurance provider Transamerica and telecommunications firm Deutsche Telekom exited US-based cybersecurity technology provider CipherCloud yesterday in an acquisition of undisclosed size by cybersecurity software producer Lookout.
CipherCloud provides cloud software that secures the secure access service edge, in which wide-area networking and security are delivered directly to enterprises through the cloud instead of through a data centre.
T-Venture, then the corporate venturing arm of Deutsche Telekom, joined venture capital firms Andreessen Horowitz and Index Ventures to invest an undisclosed amount in the company in 2011, before Andreessen Horowitz added a further $30m the following year.
Transamerica vehicle Transamerica Ventures led CipherCloud’s $50m series B round in 2014, investing alongside T-Venture, Andreessen Horowitz and Delta Partners.
Lookout chief executive Jim Dolce said: “We could not be more excited to welcome the CipherCloud team to Lookout. Our two organisations share a common passion for accelerating cloud adoption with cloud-native solutions that secure mission-critical data.
“Joining forces with CipherCloud is the next phase of our enterprise market expansion, extending our reach from the endpoint into the cloud where the applications and data reside. Through this combination, we will deliver endpoint-to-cloud security by tying together elements of our individual solutions into a single cloud-delivered offering.”
