Skyhigh Networks, a US-based cloud technology provider backed by cloud computing company Salesforce.com, has raised $40m in a series D round led by venture capital firm Thomvest Ventures.
The round, which included VC firms Sequoia Capital and Greylock Partners, increased Skyhigh’s overall funding to approximately $105m. The funding was closed at a valuation higher than its last round, a $40m series C in 2014 featuring Salesforce’s investment arm, Salesforce Ventures.
Skyhigh has built a cloud analytics platform that enables enterprises to adopt cloud services securely, providing a range of tools to help them analyse and manage security, compliance and governance requirements for their data.
The company’s technology covers some 30 million end users across about 600 customers. It intends to use the capital to accelerate its go-to-market investments and reach profitability.
Salesforce Ventures took part in the series C round alongside Greylock and Sequoia, the two investors that had funded Skyhigh’s $20m series B round in 2013. Skyhigh closed a $6.5m round in 2012, according to a securities filing.