Elastica, a start-up based in San Jose, California, raised $30 million in series B funding for its “Data Science Powered” Cloud Application Security solutions.
Elastica continuously protects organizations’ sensitive data as they adopt cloud applications and services by revealing Shadow IT and shadow data, and by providing data governance, compliance risk mitigation and powerful tools for incident response and post-incident analysis. The Elastica CloudSOC platform harnesses advanced data science and machine learning to deliver granular visibility of real-time traffic, advanced anomaly detection to identify threats and real-time content classification. Granular policies can be created and enforced in real time to prevent data breaches, compliance violations and exposure of sensitive data. The SaaS-based delivery model allows organizations to easily deploy the solution with no on-site software or hardware required.
“While cloud apps are increasingly essential for business agility and IT cost effectiveness, they have inherent information exchange and collaboration capabilities that require a new kind of security,” said Rehan Jalil, CEO of Elastica. “Our unique data science technology that delivers effective security across cloud application and services has positioned us to lead the cloud app security category. New financing will further fuel our growth.”
Third Point Ventures led the round, with participation from Mayfield Fund and Pelion Venture Partners. Robert Schwartz from Third Point Ventures joined the Elastica board.
