Thursday, April 9, 2015

Palerra Raises $17 Million for Cloud Security

Palerra, a start-up based in Santa Clara, California, raised $17 million in Series B financing for its cloud security automation solution.

Palerra's LORIC platform is designed to protect an enterprise’s entire cloud footprint, including branded applications such as Microsoft Office 365, as well as infrastructure such as AWS. The platform combines security configuration management, threat detection, predictive analytics, and automated incident response.

The funding was led by new investor August Capital, with participation from current investors Norwest Venture Partners (NVP), Wing Venture Capital and Engineering Capital.

“Enterprises want the benefits that the cloud has to offer, but only if they can maintain strong security,” said Rohit Gupta, founder and CEO of Palerra. “The dramatic rise in adoption of cloud services by today’s enterprises against the backdrop of our generation’s most potent cyber threats has necessitated a new approach. LORIC was designed to meet these threats head on and this new round underscores our commitment to deliver the most powerful cloud security solution in the industry. As the perimeter disintegrates into a set of federated cloud-based and on-premises infrastructures, effective monitoring becomes almost impossible, unless security controls are embedded in these heterogeneous environments. This will require ‘enterprises’ to reconsider and possibly redesign their security architecture and corresponding security controls by placing those controls in the cloud.”