SOURCE: Palerra

Palerra

December 10, 2015 09:00 ET

Industry Recognition and Customer Momentum Position Palerra as Leader in Cloud Security

Cloud Security Pioneer Delivers on Innovation, Signs New Customers, Extends Reach and Receives Numerous Industry Accolades

SANTA CLARA, CA--(Marketwired - Dec 10, 2015) - Palerra, the leader in cloud security automation, closed its first year since emerging from stealth in November 2014, with significant corporate momentum and product innovation. Experiencing meaningful market traction, Palerra's quarter-on-quarter sales growth has increased by more than 100 percent. In addition, new customer adoption has risen more than 300 percent and the company has been named a top 2015 Global 250 private company by AlwaysOn Networks.

In its first year, Palerra emerged as the most promising new vendor in the cloud security space.

"Palerra is in the enviable position of being the cloud security company that leading cloud providers want to partner with, and end-users want to rely on for insight into their cloud infrastructure and applications," said Rohit Gupta, founder and CEO of Palerra. "Over the last twelve months, we've brought ground-breaking innovation in cloud security with our LORIC™ platform, including cross-cloud predictive analytics, user behavioral analytics for cloud and SaaS applications and streamlined incident response capabilities. The explosive growth and market recognition that we have experienced directly ties to the success of multiple innovative enterprise leaders that now leverage our cloud security automation services."

Corporate Milestones in 2015

  • Successfully closed a Series B funding led by August Capital, Norwest Venture Partners, Wing Venture Capital and Engineering Capital, bringing the total financing raised to greater than $25M.
  • Closed Q3 with triple-digit bookings growth and expanded Palerra's reach into major industry verticals including healthcare, finance, defense, high-tech and consumer goods.
  • Signed several leading enterprises customers including BlueCross BlueShield, BMC Software, Chick-fil-A, Datastax, Jefferies, Marlette Funding and VMware, among many others.
  • Delivered one of the world's largest CASB deployments by monitoring more than 450,000 Salesforce users at a leading high-tech manufacturer.
  • Expanded its leadership team with several key executive appointments, including Scott Banning, as Vice President of Sales, Adina Simu as Vice President of Products and Robert Lentz, former Chief Information Security Officer at the United States Department of Defense, as an Independent Board Director.
  • Formed strategic partnerships with Amazon AWS, Box, Microsoft, Google, Okta, Salesforce and ServiceNow.
  • Launched a formal channel program with multiple partners including Optiv, GMV, REAN Cloud, Simeio Solutions and Alpine Cyber Solutions, to name a few.
  • Advancements to Palerra's LORIC™ technology, including User Behavior Analytics (UBA) for cloud and SaaS applications, Incident Response libraries for AWS, and application catalog expansion through the support of industry leading cloud providers including Google, ServiceNow, Okta, and more.
  • Opened a corporate subsidiary in Bengaluru, India, serving as a center of excellence in DevOps and cloud monitoring.
  • Recognized by Gartner as a "Cool Vendor" in Risk Management for 2015.
  • Received awards and accolades from multiple organizations including SINET as a 2015 SINET16 Innovator, CRN as a Top 2015 Emerging Vendor, Network World for Hottest Products at AWS re:Invent, Best in Biz for the Best New Product of the Year and AlwaysOn as a top 2015 Global 250 Private Company.

"Palerra's API-approach to the (CASB) market is a compelling one, given that it can operate regardless of where the enterprise user is working from, or which endpoint device is in use. The fact that it (Palerra) focuses on threat detection and mitigation -- potentially in a completely automated form if the customer permits -- is another differentiator for the rest of the segment. Adoption of public cloud services by enterprise users is mushrooming, so a platform that offers threat detection, and if so desired, automated remediation is clearly of interest."
("On The Radar: Palerra", Ovum, Aug. 19, 2015 by Rik Turner)

Palerra's LORIC SaaS platform helps enterprises by providing visibility into user activities, detect insider and external threats, maintain compliance and automate incident response. LORIC monitors enterprise cloud services including Google apps, Amazon AWS, Salesforce, Box, Microsoft® Office 365™ and ServiceNow, and promotes the security of these services through a single pane of glass.

To learn more about LORIC:

About Palerra
Palerra helps organizations protect their business-critical cloud infrastructure and data with LORIC™, the industry-leader in cloud security automation. It is the only solution to combine visibility, threat detection, compliance management, and automated incident response for cloud services into a single platform. Leading enterprises including BlueCross BlueShield, BMC Software, Jefferies and VMware leverage LORIC for continuous monitoring and security of their cloud applications. Palerra is a privately held company funded by Norwest Venture Partners, Wing Venture Capital and August Capital and is headquartered in Santa Clara, Calif. For more information, visit www.palerra.com.

Contact Information

  • Media Contact:
    Scott Lechner
    Kulesa Faul for Palerra
    (530) 521-3095
    Email Contact