Skyhigh secures high finance

Skyhigh Networks has raised $40 million in Series C financing. Greylock Partners and Sequoia led the round, with participation from salesforce.com. The round brings the company’s total capital raised to $66.5 million and will support its aggressive growth strategy. Skyhigh plans to use the investment to further extend its lead in the rapidly growing cloud security market, accelerate the company’s expansion into international markets, and drive greater product innovation around Skyhigh’s Discover, Analyse and Secure solutions.

“At Skyhigh we are laser-focused on helping CIOs and CISOs enable the adoption of cloud services that empower employees and drive productivity and business innovation while addressing their security, compliance, and governance requirements,” said Rajiv Gupta, CEO of Skyhigh Networks. “With this funding we will expand sales and double down on product innovation to continue to deliver the industry’s most comprehensive, effective, and easy-to-consume cloud security offering.”
This funding announcement marks yet another milestone for Skyhigh Networks since its launch in February 2013. Company milestones include:

· Enterprise customer traction: As the recognised leader in the cloud access security broker market, Skyhigh is enabling over 200 enterprises across every industry vertical to securely adopt cloud services. These enterprises are using Skyhigh to consistently enforce their security, compliance, and governance policies on cloud services whether they are accessed from their corporate network or off-network.
· Product leadership and innovation: Skyhigh is the only company that supports the entire cloud adoption lifecycle, providing unparalleled visibility and risk assessment, usage and threat analytics, and policy-based access control and data security. Skyhigh delivers these capabilities without any friction to the cloud service provider or to the user (no agent, no VPN) and in a manner that is respectful of the privacy of the user.
· Adoption of Skyhigh CloudTrust Program: The Skyhigh CloudTrust Program helps enterprises lower risk and streamline the evaluation process by providing an objective and comprehensive assessment of the security controls and enterprise-readiness of more than 6,000 cloud services. Since its formal launch in January 2014, more than 60 cloud services that are rated Skyhigh Enterprise-Ready, have joined the Skyhigh CloudTrust Program.
· Market opportunity and potential: In May 2013, Sequoia and Greylock Partners participated in Skyhigh’s $20 million Series B round. In a departure from convention, these existing investors are co-leading Skyhigh’s $40 million Series C round with participation from salesforce.com, validating Skyhigh’s unparalleled customer traction and massive market potential.