Bitglass accesses Future Fund for $45m series C

Australia’s sovereign wealth fund Future Fund has led a consortium of existing investors, including Singtel Innov8, for a $45m series C round.

Bitglass, a US-based data protection technology producer, obtained $45m in series C capital on Friday from investors led by Future Fund, the sovereign wealth fund of Australia.

Singtel Innov8, the corporate venturing subsidiary of telecoms firm Singtel, Norwest Venture Partners, New Enterprise Associates (NEA) and other unnamed backers returned for the round.

Founded in 2013, Bitglass provides software that enables staff to use their personal devices while ensuring visibility over corporate data across the network. The technology enables businesses to easily enforce corporate data security policies across cloud-based applications such as Salesforce, Office 365 and Box.

The money will support international expansion across the US, Europe, the Middle East and Africa as well as the Asia-Pacific region.

Bitglass has now raised a total of $80m in funding. Singtel Innov8 contributed to a $25m series B round alongside NEA, Norwest and an unnamed financial services firm in 2014. NEA and Norwest previously supplied $10m in series A capital in 2013.

Nat Kausik, chief executive of Bitglass, said: "Cloud and mobile are driving business data beyond the firewall, introducing new security and compliance risks.

"Bitglass uniquely delivers real-time inline data protection in the cloud, at access, and on any device.  This funding is testimony to our strong position in the market and fiscal health."

See more from this Government Report: Australia


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