vArmour secures $58m to boost the growth of the company

From: RegTech Analyst

Cybersecurity firm vArmour has raised $58m to accelerate the company’s growth as demand for its services increase.

AllegisCyber Capital and NightDragon led the round with support from existing investors Standard Chartered Ventures, Highland Capital Partners, Telstra, Redline Capital and EDBI.

“As applications become more complex, more distributed, and more targeted by attackers, the importance of full visibility into the relationships between applications becomes increasingly important.” said Dave DeWalt, founder of NightDragon.

“vArmour’s approach to application relationship management ensures that enterprises of all sizes can continuously audit, respond, and control identity relationships to best protect their important IP, and mitigate risk to the business.”

The raise was announced as more businesses than ever moved their operations online and onto the cloud last year in order to tackle the challenges of the pandemic.

“Managing risk and resiliency in the hybrid cloud is one of the most significant security challenges for enterprises,” said Bob Ackerman, founder and managing director at AllegisCyber Capital.

“vArmour’s platform provides the visibility, controls, and accountability necessary to actively manage these challenges and has done this for hundreds of customers. We are ecstatic to be part of their next stage of growth.”

Tim Eades, CEO of vArmour, was bullish about the company’s ability meet the growing demand for cloud-based cybersecurity.

“Our innovation, partnerships, and overall customer momentum have been critical in helping us with our growth toward the path to the public marketplace,” Eades said.

“By giving our customers unparalleled insights into their applications and the identity of each relationship, we equip them to make real-time decisions regarding their critical assets, which helps enhance both their security posture and their end-user experience.”

vArmour raised $44m in a Series E round in February 2019.

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