Porticor Cloud Security Secures Additional $2 Million in Financing

Porticor Cloud Security Secures Additional $2 Million in Financing
July 17, 2013 Hagar

Cloud Security Leader, Porticor, Closes Round of Venture Financing Led by Lazarus Israel Opportunities Fund and Glilot Capital Partners.

TEL-AVIV, Israel. – July 17, 2013 Porticor®, a leading cloud data security company, announced today it has closed a new round of venture funding led by Lazarus Israel Opportunities Fund and Glilot Capital Partners. Porticor delivers the only cloud-based data encryption solution that infuses trust into the cloud and keeps cloud data confidential. The industry leader will use the $2 million to accelerate development, continue building its lead with compliance-oriented industries, extend service to additional infrastructure clouds, and grow the ecosystem of third-party partners.

“Porticor occupies a vital place at the intersection of several important trends: big data, infrastructure and platforms as a service, cloud-based hosting, data security, and compliance,” said Brian Abrams, Partner at Lazarus Israel Opportunities Fund.  “As more and more data moves to the cloud, we expect to see enormous demand for Porticor’s unique and highly innovative solution.”

“In addition to being top of the line in security and compliance,” added Kobi Samboursky, Glilot Capital Partners’ Co-Founding Partner, “Porticor’s solution easily integrates into cloud and development environments, allowing companies to ensure a secure environment quickly and cost effectively.”

“Cloud security is a top concern for companies migrating to the cloud,” said Gilad Parann-Nissany, Porticor founder and CEO. “With this round, we plan to continue to drive innovation in cloud security and provide cutting edge solutions to compliance-oriented industries, such as insurance, health, legal and utilities.”

Porticor is unique in its class in that it offers the only 100% cloud data security solution with security as strong as traditional physical boxes, due to its unique Homomorphic Key Management.  Now, with the additional financing, it will further enhance its product and solidify its position as the go-to provider of compliant data security solutions, specifically in the sectors of healthcare, finance, legal and utilities.

About Porticor

Porticor is the leading cloud security company delivering easy-to-use and scalable security solutions for cloud encryption and key management.  The Porticor Virtual Private Data™ (VPD) system is the industry’s first solution combining encryption with patented split-key management to protect critical data in public, private and hybrid cloud environments.  Within minutes, customers can encrypt their entire data layer with the proven AES 256-bit encryption algorithm.  Using breakthrough split-key encryption technology, and homomorphic key encryption, the Porticor VPD is the only system available that offers the ease-of-use of pure cloud-based key management with security on par with traditional physical boxes.  Porticor is an official Amazon Web Services Solution provider, a VMware Technology Alliance Partner, and supports other clouds.  The company is headquartered in Tel Aviv, Israel, and is venture backed by Lazarus Investment Partners LLLP and Glilot Capital Partners.  For more information, visit: http://www.porticor.com/

About Lazarus Israel Opportunities Fund

Lazarus Israel Opportunities Fund LLLP is a US-based investment fund focused on Israeli companies.  It has a dual mandate to invest in privately held growth companies and publicly listed shares.  The fund is overseen by Lazarus Management Company LLC, which was founded in 2003.

About Glilot Capital Partners
Glilot Capital Partners is an Israeli-based venture fund that offers seed and early stage investments. Glilot focuses on accelerating the success of promising Israeli startups in the areas of software, cyber and IT security, Internet, and mobile applications. For more information: www.glilotcapital.com