Cloud Security Firm Aporeto Raises $20 Million
Cloud security firm Aporeto on Wednesday announced that it raised $20 million in a Series B funding round, which brings the total raised by the company to date to $34.5 million.
The funding round was led by Comcast Ventures, with participation from National Grid Partners (NGP), Telia Ventures, Wing VC and Norwest Venture Partners. David Zilberman, managing director of Comcast Ventures, will join the Aporeto board of directors.
The money will be used for go-to-market expansion and innovation, Aporeto said.
Aporeto provides cloud security solutions designed to protect applications, containers and microservices against attacks and prevent lateral movement by authorizing, authenticating and encrypting all communications with a cryptographically signed identity that is assigned to each workload.
Its platform, which implements zero trust security, enables automated orchestration across various types of cloud environments by enforcing a uniform and distributed security policy for each workload independently of the network configuration.
“The rise of the cloud means the end of network security as we know it. Network constructs like ports and addresses can no longer anchor a dynamic cloud security posture and must be replaced with an application-centric, identity-powered approach. All enterprises adopting the cloud will eventually need to move in this direction,” said Peter Wagner, founding partner at Wing Venture Capital.
“Too much of security today relies on the recycling of old ideas, like miniaturized firewalls, IP address identity, and new spins on signature-based detection,” commented Matt Howard, general partner at Norwest Venture Partners. “These approaches aren’t sufficient for securing today’s dynamic and complex hybrid environments, which combine many legacy assets with newer cloud-native development. Aporeto’s unique approach to securing applications and networks based on cryptographic identity has created a truly uniform security model that spans all types of infrastructure, making it easier to manage the transition to cloud.”