VArmour, a US-based cloud security software provider backed by telecommunications firm Telstra and financial services firm Citi, raised $44m in its series E round yesterday.
Cybersecurity-focused investment firms AllegisCyber and NightDragon co-led the round, which included participation from undisclosed existing backers.
Founded in 2011, VArmour has developed cybersecurity software called Conform that is used by organisations to protect data and applications in cloud environments from hacking attacks, helping customers in heavily regulated industries such as finance, healthcare, and telecommunications and government comply with data protection legislation.
VArmour has increased its total funding to approximately $127m in the round, having previously raised $41m in a 2016 series D that included Telstra’s corporate venturing arm, Telstra Ventures, and Redline Capital.
Menlo Ventures led the company’s $15m series B round in 2013, before Citi Ventures, the strategic investment vehicle for Citi, co-led a $21m series C with Work-Bench and Columbus Nova Technology Partners the following year. Highland Capital had led its $6m series A earlier in 2013.
Tim Eades, VArmour’s CEO, said: “Security and IT pros are having a difficult time maintaining consistent security policy across their private and public cloud environments, so we have designed Conform to help these teams manage the numerous compliance requirements they have to deal with.
“By taming the cloud, VArmour brings peace of mind all the way to the boardroom, enabling further cloud adoption and aiding with regulatory compliance.”