Bitglass
What they do: Provide a Cloud Access Security Broker (CASB) service.
Problem they solve: As enterprises move critical workloads to the cloud (both public and private), they are struggling to secure data and maintain regulatory compliance. For instance, public cloud apps like Office 365 are being widely adopted in the enterprise, driving new security concerns and needs.
When data is accessible from any endpoint outside the corporate network, protecting data based on its content and the context in which it’s being accessed becomes exponentially more difficult. Enterprises have limited visibility across cloud applications and require the ability to prevent data leaks while fully supporting user mobility and productivity.
How they solve it: Bitglass’ agentless Cloud Access Security Broker (CASB) service allows any security-conscious organization to safely adopt cloud-based applications, such as G Suite, AWS, or Microsoft Office 365, by protecting corporate data at access. The data protection suite provides end-to-end security and visibility over corporate data in the cloud and on any device. The Bitglass solution enables IT to enforce access controls, limit sharing, and prevent data leakage across all major enterprise cloud applications.
Startup Bitglass raises $45M Series C, builds out Cloud Access Security Broker service to protect data stored in cloud http://wp.me/p330ZZ-iz Share on XBitglass argues that it offers the only CASB on the market with “a hybrid architecture, leveraging proxies and APIs to offer real-time data protection on any device, without deploying agents.” Bitglass’ Citadel data protection engine can encrypt, track, and redact corporate data anywhere it goes, including unmanaged devices.
Headquarters: Campbell, CA
CEO: Rich Campagna. Rich joined Bitglass as VP Products, and then became SVP Products and Marketing before becoming CEO in June 2017. Prior to joining Bitglass, he was senior director of product management at F5 Networks, responsible for access security.
Year Founded: 2013
Funding: In January 2017, Bitglass closed a $45 million Series C round. In addition to new investor Future Fund, existing investors NEA, Norwest, Singtel Innov8, and others participated. The round brings Bitglass’ total funding to $80 million.
Competitors include: CipherCloud, Netskope, and Skyhigh Networks.
Customers include: AMAG and Bay Cove Human Services.
Why they’re in the Big 50-2017: Bitglass has solid fundamentals (big funding, CEO with the right background, named customers), and they performed well in both online voting and the Big50 Content Challenge.
Moreover, we at Startup50 expect CASBs to gain market share as the Great Enterprise Cloud Migration marches onward. Gartner forecasts that by 2020, 85% of large enterprises will use a CASB platform for their cloud services, which is up from less than 5% today. We’re probably not quite that bullish on the space, but we really only disagree with the “when” (not that much market penetration that soon), not the “if.”
