CipherCloud Acquisition, Valuation, Funding & Investors

CipherCloud was acquired by Lookout in March 2021.

CipherCloud acquisition price

Undisclosed

Acquired by Lookout · Mar 2021

Cumulative funding CipherCloud raised

$50M

across 1 funding round

Key investors in CipherCloud

  • Andreessen Horowitz
  • DTCP
  • Transamerica Ventures
  • Delta Partners Capital Limited

CipherCloud Overview

About CipherCloud

CipherCloud is a cloud security company that provides data protection, encryption, and data loss prevention for SaaS applications such as Box, Office 365, and Salesforce. Its cloud access security broker (CASB), zero-trust network access (ZTNA), and DLP products help security-conscious organizations, including major banks, healthcare providers, pharmaceutical companies, and government agencies, monitor and control sensitive information moving to the cloud. Based in San Jose, CipherCloud built its platform to help enterprises comply with data security, privacy, and residency regulations such as GLBA, PCI, and HIPAA.


Founded

2010

HQ

United StatesUnited States

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Valuation

$741M (Nov 2014)

CipherCloud Acquisition

CipherCloud was acquired by Lookout for an undisclosed price on 15 March 2021.

Before the acquisition CipherCloud had raised $50M across 1 funding round.

Lookout, a cybersecurity company specializing in mobile endpoint security, acquired CipherCloud, a cloud-native security firm operating in the Secure Access Service Edge (SASE) market, on March 15, 2021. CipherCloud provided products including cloud access security broker (CASB), zero-trust network access (ZTNA), and data loss prevention (DLP). The acquisition enabled Lookout to combine its endpoint security with CipherCloud's SASE technologies to offer an end-to-end platform securing data from endpoint to cloud. Prior to the deal, CipherCloud had raised $80 million in funding and achieved a $741 million valuation in its November 2014 Series B round. CipherCloud's founder and CEO, Pravin Kothari, joined Lookout as EVP, Product and Strategy, SASE, with CipherCloud operating under Lookout's brand and leadership. The move positioned Lookout to capitalize on the SASE market's projected 42% CAGR to nearly $11 billion by 2024, per Gartner, amid a shift to cloud infrastructure and remote work.

CipherCloud acquisition details
AcquirerDateType
15 Mar 2021Strategic M&A

CipherCloud Valuation

CipherCloud is currently valued at $741M, based on its Series B in November 2014.

The $50M round was led by Transamerica Ventures, with participation from Andreessen Horowitz, DTCP and Delta Partners Capital Limited.

CipherCloud valuation by funding round

CipherCloud valuation by funding round
DateStageValuation
Nov 2014Series B$741M

CipherCloud Funding History

CipherCloud has raised a total of $50M across 1 funding round.

CipherCloud funding rounds

CipherCloud funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2014Series BTransamerica Ventures (lead); Andreessen Horowitz; DTCP; Delta Partners Capital Limited$50M$741MCipherCloud is a cloud security company providing data protection, encryption, and data loss prevention services for SaaS applications including Box, Office 365, and Salesforce.com. The company serves security-conscious clients such as five of the top U.S. banks, healthcare providers, pharmaceutical companies, and government agencies, with 3 million users reported at the time of funding. On November 19, 2014, CipherCloud announced a $50 million Series B funding round led by Transamerica Ventures, with participation from Delta Partners, Andreessen Horowitz, and Deutsche Telekom Strategic Investments (T-Ventures), bringing total funding to $80 million. The funds were intended to hire more employees, expand sales and marketing efforts, and enter new markets amid growing anxiety over cloud security. CipherCloud had been operating for four years by this point, positioning itself to capitalize on the expanding cloud computing market, projected to see corporate spending reach $235 billion by 2017.

Who has invested in CipherCloud?

4 investors have backed CipherCloud across its funding rounds, including Andreessen Horowitz, DTCP, Transamerica Ventures and Delta Partners Capital Limited.

Lead investors include Transamerica Ventures.


CipherCloud Investors

Investors in CipherCloud by funding rounds participated
InvestorHQRoundsRoleFirst check
Andreessen HorowitzUnited StatesSan Francisco, CA1ParticipantNov 2014
Transamerica VenturesUnited StatesNew York City, NY1LeadNov 2014

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Acquisitions by CipherCloud

CipherCloud has acquired 2 companies to date.

Last acquisition by CipherCloud was on April 1st 2015. CipherCloud acquired Anicut for undisclosed valuation.


Latest Acquisitions by CipherCloud

Anicut
CloudUP Networks
Description
Anicut is a Santa Clara-based cybersecurity firm founded in 2013 by engineers from Juniper Networks, Blue Coat, and Check Point. The company develops next-generation firewalls, SSL VPNs, and web proxies with patented architectures for threat detection. Its solutions protect enterprises in cloud and mobile environments against advanced persistent threats.
CloudUP Networks is a provider of SaaS-based application security for web and mobile environments. The platform delivers runtime protection against OWASP threats, API abuse, and bot attacks using behavioral analysis. Deployed across North America and Europe, CloudUP secures e-commerce sites and enterprise apps without code changes.
HQ CountryUnited StatesUnited States
HQ City
San Jose, CA
San Francisco, CA
Deal Date1 Apr 201516 Jan 2014
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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CipherCloud Competitors

CipherCloud competitors include listed companies like CANCOM and Mitek Systems, and private ones like Coro, Exaforce, Proof and Nile.

Public and private companies comparable to CipherCloud
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CANCOMGermanyGermanyPublicly listed$2B$118M$740M0.4x
CoroUnited StatesNew York City, NYPrivate$100M-$750M7.5x
ExaforceUnited StatesSan Jose, CAPrivate--$725M-
ProofUnited StatesBoston, MAPrivate--$760M-
NileUnited StatesSan Jose, CAPrivate$8M-$775M96.9x
Mitek SystemsUnited StatesUnited StatesPublicly listed$180M$37M$781M3.7x

CipherCloud Public Comps

CipherCloud is no longer listed, but its public comps include CANCOM, Mitek Systems, Asiainfo Security, Feitian Technologies, OneSpan, Riskified, Rapid7, DBAPPSecurity, Aura.com and Yubico.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CANCOM$2B$118M0.4x0.4x6.3x5.7x
Mitek Systems$180M$37M4.1x3.7x19.9x11.2x
Asiainfo Security$1.2B($11M)1.2x1.1x(126.2x)339.7x
Feitian Technologies$104M($4K)6.2x-(168378.6x)-
OneSpan$243M$57M2.6x2.5x11.0x8.9x
Riskified$345M($31M)1.8x1.6x(20.3x)19.0x
Rapid7$860M$63M1.3x1.3x17.4x6.8x
DBAPPSecurity$321M$15M1.8x1.8x38.5x21.1x

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Common questions about CipherCloud

When was CipherCloud founded?CipherCloud was founded in 2010.
Where is CipherCloud headquartered?CipherCloud is headquartered in United States.
Is CipherCloud publicly listed?No, CipherCloud was acquired by Lookout in March 2021.
Who acquired CipherCloud?CipherCloud was acquired by Lookout in March 2021.
What is CipherCloud's valuation?CipherCloud was last valued at $741M in its Series B in November 2014.
How much funding has CipherCloud raised?CipherCloud has raised $50M across 1 funding round.
What was CipherCloud's last funding round?CipherCloud's last funding round was a $50M Series B in November 2014, led by Transamerica Ventures.
Who are CipherCloud's investors?CipherCloud's investors include Andreessen Horowitz, Transamerica Ventures, DTCP and Delta Partners Capital Limited.
Which companies are comparable to CipherCloud?Companies comparable to CipherCloud include CANCOM, Coro, Exaforce, Proof, Nile and Mitek Systems.
How many companies has CipherCloud acquired?CipherCloud has acquired 2 companies, including Anicut and CloudUP Networks.

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