Elastica Positioned to Lead Cloud Application Security Market

Traditional solutions’ inability to provide security for enterprise cloud usage has created demand for Elastica

Elastica has closed its series B funding round with an investment of $30 million. Robert Schwartz from Third Point Ventures joined the Elastica board. As a member of the Cloud Access Security Brokers category, Elastica is competing in a market that Gartner has identified as rising in importance. The cloud app security provider will use the investment to further fuel its global expansion, channel sales, engineering, marketing and research teams as it takes a leadership role in the market.

“Elastica is the kind of company we like to invest in – one that is rapidly becoming a category leader,” said Robert Schwartz, managing partner at Third Point Ventures, the venture arm of Third Point LLC. “Elastica has very strong momentum as it fundamentally changes the way the enterprise makes usage of cloud apps secure. The company’s innovative solutions, strong management and deep bench of data scientists and researchers have enabled a new category of security for cloud apps that traditional security solutions cannot bridge.”

According to 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.”