Telecommunications firm Telus and cloud software producer Zoho are set to exit US-based cybersecurity technology provider Zenedge, which has agreed to an acquisition of undisclosed size by cloud software supplier Oracle.
Zenedge has built a range of artificial intelligence-equipped cybersecurity products focused on the cloud including a web application firewall and software that mitigates distributed denial of service attacks.
The products help protect about 800,000 web properties and networks globally, and the company’s technology will boost the Oracle Cloud Infrastructure and Domain Name System offerings.
Zenedge had raised $13.9m in funding altogether, including $4m in a 2015 series B round led by Telus that followed a $3.5m series A round the year before backed by angel investors Yehuda Neuberger, Fred Sorkin and Andrew Malik.
Telus returned for the company’s $6.2m series C round in 2016, which was led by a $5m investment by Pilot Growth Equity. Telus, which took part through corporate venturing unit Telus Ventures, and Pilot were joined by Zoho and Neuberger.
Don Johnson, Oracle’s senior vice-president of product development, said: “Customers demand enterprise-grade infrastructure to run their critical business systems in the cloud.
“Oracle Cloud Infrastructure as a Service delivers leading cloud services to address those needs. The combination with Zenedge equips Oracle Cloud Infrastructure with integrated, next-generation network and infrastructure security, to address modern security threats.”