Elastica Inc, a leading company in top level security for cloud applications and services, have announced $6.3 million in funding from the Mayfield Fund. The Mayfield Fund is one of the largest global venture capital firms in the US with $3 billion under management. It focuses on early investments in information technology companies to develop from conception to growth.
The funding will enable Elastica to expand beyond its current product within cloud security services. Though Elastica originally started with the plan to provide a security operations center for cloud services, the CloudSOC™ solution, it has now expanded far beyond that to provide multilayered solutions to many different types of issues within cloud security to allow for an ‘Elastic Enterprise.’ This has been so successful that Mr. Jalil has already turned away a number of acquisition offers. “We want to build a company. We think we have a big problem to solve, and it’s a very easy problem to understand,” he said.
Now that Elastica has received its first substantial investor it is only a matter of time before many more come flooding in as their product base expands.
Elastica was founded in 2012 by Rehan Jalil, who notably founded and directed WiChorus Elastica has a staff of over 65 people from across the world with a number of top experts in cloud security and engineering.
Jalil, President and CEO of Elastica, said: “We are focused on enabling the Elastic Enterprise, where companies can achieve the business agility, collaborative capabilities and cost efficiencies to effectively compete in today’s market. By harnessing advanced data science and machine learning, our unique solution provides a missing piece to securing cloud services and applications so that this vision of an Elastic Enterprise can become reality.”
This is the latest investment in a series of funding cycles for the cloud security niche.