Companies that can make the enterprise space feel more secure about transferring its data to a platform it has less control over are going to thrive, and, already, a few of them have been trying to be at the forefront, including Apprity a cloud security company that says it has a new way of protecting cloud and SaaS apps. Apparity has now raised $8 million in oversubscribed Series A round of venture capital funding, the company has announced. This is the first outside money that it has raised.
The stealthy business security company Apprity, launched by two former Oracle employees, has raised $8 million in its first institutional financing. For its first venture round, Apprity turned to seasoned security technology investors Promod Haque, a senior managing partner at Norwest Venture Partners, and Gaurav Garg, a founding partner of Wing Ventures. The last time these two investors came together on a deal, the result was the tech security darling FireEye, which held its initial public offering in September 2013, nine years after its launch. “The reality is most traditional approaches involve a perimeter-centric mindset, whether it is proxy-based or server-based,” said Apprity’s Chief Executive Rohit Gupta, who previously worked as VP of Products in the identity management and security group at Oracle.