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HyTrust raises $36M and acquires DataGravity

HyTrust raises $36M and acquires DataGravity
From TechCrunch - July 11, 2017

Word spread late last week that data visibility and security startup DataGravity had been acquired. At the time, though, it was unclear by whom. Now we know. It was HyTrust, a company that specializes in securing workloads that run in private and public clouds. The details of the deal were not disclosed, but over the course of its startup life, DataGravity had raised $92 million from the likes of Accel Partners, Andreessen Horowitz, CRV and General Catalyst.

HyTrust made the acquisition announcement in parallel with its latest funding announcements. The company today said that it has raised a $36 million Series E round led by Advance Venture Partners,with participation from its existing venture capital and strategic investors. These include Sway Ventures, Epic Ventures, Vanedge Capital, Trident Capital, Cisco, Fortinet, Intel and VMware.

Todays investment brings the total investment into the Mountain View-based company to $95.5 million, excluding two debt financing rounds in 2015 and 2016 that totaled another $13 million.

While HyTrust has been around since 2007, there can be little doubt that interest in its services is probably growing rapidly right now as companies try to shield themselves from what looks like an ever-increasing security risk. HyTrust is very well positioned to capitalize on a tremendous growth opportunity in the cloud security space, said David ibnAle, a founding partner of AVP. The need for security, automated compliance and policy enforcement for cloud infrastructure and data is critical in almost every industry, and HyTrust is front and center in this field.

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