Cloud security solutions firm CipherGraph raises funds from The Social+Capital Partnership
CipherGraph Networks Pvt Ltd, a Bangalore-based startup that provides enterprise cloud security solutions, has raised an undisclosed amount from The Social+Capital Partnership, a Silicon Valley-based VC firm, founded by serial investor Chamath Palihapitiya. The fund will be used to ramp up technology and to expand the team.
The startup was founded by Jitender Sharan (CEO) in August 2011. Saran, who holds a B Tech degree in computer science and engineering from IIT, Kanpur, has earlier worked in companies like Fraunhofer FOKUS, Aventail and SonicWALL. CipherGraph has launched a cloud virtual private network (VPN) service that acts as a unified cloud security service to allow secure and regulated access to users cloud and physical data centers from all devices, including smartphones and tablets.
The company was also one of the 11 tech startups that were selected for Microsoft's startup accelerator programme in India, Microsoft Accelerator for Windows Azure. As part of the four month programme (that will end early next year), CipherGraph will get $60,000 in Azure credit through the Microsoft BizSpark Plus programme.
Early last month, The Social+Capital Partnership, along with Peter Thiel (co-founder of PayPal and one of the early investors in Facebook who is now associated with a VC firm and a hedge fund), David Sacks (Yammer founder), David Sacks (Yammer founder), Nicolas Berggruen, and existing investor AngelPrime, had invested $3.5 million in Series A round of funding in mobile payments service provider Ezetap Mobile Solutions Pvt Ltd. The VC firm had also separately invested an undisclosed amount in AngelPrime, a Bangalore-based angel investment firm and incubator.
(Edited by Prem Udayabhanu)