Cryptzone, a provider of dynamic, context-aware network, application and content security solutions, today announced that it has closed a $15 million (£9.4 million) Series B round of funding. The round was led by Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, L.P., an approximately $29-billion (£18.2 million) alternative investment firm. Nishita Cummings, Managing Director at Kayne Partners, will join the Cryptzone board representing the firm, which has invested in other leading-edge companies in the security and software sectors like CellTrust, Zafin and FaceFirst. Additionally, existing investor Medina Capital and a number of its limited partners participated in the round.
The funding will accelerate Cryptzone’s go-to-market strategy and fuel its global expansion. Cryptzone’s disruptive solutions allow organisations to avert cyber-attacks via privileged account and third-party users, and prevent the exposure of sensitive and confidential information to unauthorised users, using identity and context to dynamically secure access.
“The strong interest in Cryptzone from an investor like Kayne Partners, with its proven track record in partnering with innovative, high-growth companies, underscores the market’s recognition of the value we provide through our unique and disruptive approach to securing networks and content,” states Kurt A. Mueffelmann, President and CEO of Cryptzone. “This funding round will allow Cryptzone to continue our accelerated revenue growth through cutting-edge development of our AppGate platform, drive global expansion through our sales and partner distribution channels, and continue to build awareness around how Cryptzone uniquely and disruptively mitigates the threats that lead to security breaches.”
Cryptzone’s award-wining portfolio of solutions includes AppGate®, a dynamic, context aware security gateway that can operate at or within the perimeter to prevent unauthorized access; Security Sheriff an integrated classification, encryption and content protection solution for SharePoint®, Office 365 and File Shares; Simple Encryption PlatformTM to secure data in email, removable storage, files and folders; and Compliance Sheriff to provide content governance for public websites, intranets and extranets.
“We are seeing an explosive opportunity in the cybersecurity market worldwide,” said Barry Field, Partner at Medina Capital. “Hackers are winning many battles in the war today, and their success is forcing enterprises to significantly rethink how they approach security. Cryptzone’s innovative technology, which essentially makes an enterprise’s infrastructure invisible to hackers, whether it’s hosted across cloud, virtual or physical environments, is exactly what companies need to ensure they don’t join the current avalanche of front-page breaches.”
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