Israel-headquartered Guardicore, a leader in internal data centre and cloud security, has announced it has raised US$60 million in Series C funding, bringing the company’s total funding to US$110 million. This more than doubles the total capital raised to date and represents an endorsement of Guardicore’s current momentum as the company continues to disrupt the broader firewall and data centre markets.
“Any organisation has critical IT assets that need to be secured. Our distributed, software-defined segmentation solution is the simplest way to secure these assets whether they reside in the cloud or on premises. The days of being chained to legacy firewalls are over,” said Pavel Gurvich, CEO and Co-founder of Guardicore.
New investor, Qumra Capital, led the round and was joined by other new investors DTCP, Partech, and ClalTech, Access Industries’ vehicle for Israeli technology investments. Existing investors, Battery Ventures, 83North, TPG Growth, and Greenfield Partners also participated in the round. Guardicore will leverage the funds to fuel continued growth and accelerate investments in sales, marketing and customer service as it seeks to expand delivery of its Guardicore Centra security platform to enterprise organisations seeking to protect dynamic data centre and cloud infrastructure environments. Ram Metser, Executive Chairman of Segterra, an innovative digital health analytics company, and Former CEO of Guardium, a dominant database security company acquired by IBM, also joined the Guardicore board of directors.
Gurvich said: “Since our last round of funding, we have successfully been able to articulate our vision and demonstrate that the market is ripe for disruption. With consistent revenue growth the past three years and large-scale deployments with numerous Fortune 500 customers, we have proven that our product is more intuitive, flexible and makes security easier to apply than traditional firewall technology currently being used to protect internal and cloud infrastructure. We are displacing incumbent players and newcomers alike as we strive to help our enterprise customers quickly secure their business-critical applications and data, reduce the cost and burden of compliance and secure cloud adoption.”
“Deutsche Bank is committed to the highest standards of security and a high priority for us is implementing tight network segmentation in our on-premise and cloud environments. Guardicore gives us an effective way to protect our critical assets through segmentation,” said Alan Meirzon, Director, Chief Information Security Office at Deutsche Bank, a Guardicore customer.
“Guardicore is changing the way enterprises approach data centre security with modern segmentation capabilities that overcome the inherent inefficiencies of traditional techniques and results in stronger security for enterprise environments,” said Boaz Dinte, Founding Partner of Qumra Capital, investing in exceptional late-stage companies.
“Guardicore is disrupting the market and is well positioned to capitalise on the broader opportunities this presents. We were compelled to invest as the lead in this round because we believe Guardicore will play a critical role in shaping the future of enterprise security, helping organisations better protect vital systems and data as we evolve our digital information society,” said Dinte.
“Guardicore is led by an exceptionally strong team with deep tech know-how and has demonstrated consistent growth and momentum since inception. With wide-spread adoption of distributed and hybrid infrastructures, we need a new paradigm for enterprise security outside of classic perimeters,” said Irit Kahan, Managing Director at DTCP, a global investment platform with c. US$1.7 billion assets under management from Deutsche Telekom and other institutional investors. “The company’s unique market positioning and attractive roster of customers across the US and Europe, including some of the largest Fortune 500 names, have validated the value and scale of Guardicore’s approach and strong capabilities.”
Guardicore protects data centres of large and mid-sized enterprises across North America, South America and EMEA in financial, healthcare and retail industries, including global, blue-chip brands.
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