Skyhigh raises $40M, aims to expand leadership in cloud security market

Skyhigh that offers cloud security software to help companies meet compliance requirements and assess cybersecurity risks, has secured $40 million in a Series D investment round. The funding was led by Thomvest Ventures along with the participation from Sequoia Capital and Greylock Partners. With this funding, Skyhigh also announced the appointment of Umesh Padval, Venture Partner at Thomvest, in the Board of Directors. Skyhigh claims that it will utilize the capital to make more investments and expand leadership in the cloud security market where it is planning to deploy its Cloud Access Security Broker (CASB) solution. Cloud access security brokers (CASB) are on-premises or cloud-hosted software that act as a control point to support continuous visibility, compliance, threat protection, and security for cloud services. Rajiv Gupta, Co-Founder and CEO, Skyhigh Networks stated, “It will enable us to accelerate our growth and carry us to profitability. We are delighted to have Umesh Padval from Thomvest join our Board of Directors as we capitalize on the market opportunity to be the control point for the cloud.” The company secured $40 million in series C funding in the year 2014, before that it raised $20 million in series B in 2013 and $6.5 million in series A in 2012. With this round the total capital of Skyhigh goes over $105 million.