Avanan Raises $14.9 Million Series A Financing Round

PRESS RELEASE

NEW YORK--(BUSINESS WIRE)--Avanan, a cloud security innovator, today announced that it has raised $14.9 million in Series A financing. Greenfield Cities Holdings, L.P. (GFC), a TPG Growth portfolio company, led the round, with participation from both of Avanan’s existing investors, Magma VC and StageOne Ventures. The round brings the company’s total capital raised to $16.4 million and will allow Avanan to support its rapidly growing customer base and the fast pace of market adoption.

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.@AvananSecurity raises .9M #SeriesA funding round to support customer base & fast market adoption #cloudsecurity

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Avanan’s Cloud Security Platform is a new way to secure the cloud. With a click of a button, enterprises can protect Amazon AWS, Box, Google, Office 365, or any other Software-as-a-Service (SaaS) or Infrastructure-as-a-Service (IaaS) product, using preconfigured cloud-based versions of security technology from more than 60 leading vendors such as Check Point, Symantec, McAfee, Palo Alto Networks, Sophos and Kaspersky.

“Companies that leverage SaaS platforms such as Office 365 are looking for ways to ensure these platforms are being used in a secure and compliant manner. Avanan created the solution they need with the security technologies they already trust. With their current list of partnerships and integrations, most recognized brands in the industry are on Avanan’s platform,” said Yuda Doron, co-founder and head of GFC. “We’ve been impressed with the fast adoption of the Avanan vision by customers and look forward to partnering for continued growth.”

Leveraging partnerships, Avanan built a Security-as-a-Service platform that protects the cloud with the full stack of security, including malware protection, antivirus, data leakage prevention, endpoint compliance, behavior monitoring, email security, anti-phishing, encryption and more. Avanan allows organizations to manage cloud security from a single pane of glass and lets IT respond to incidents in an automated and scalable way. Because it is entirely cloud-based and leverages only APIs, Avanan’s product is deployed in minutes with no effect on end users.

Avanan was founded in 2014 by the team that led ForeScout’s successful pivot to Network Access Control.

“Our former customers were moving to the cloud and were asking for the same protection in the cloud that we were providing on the network. We wanted to allow them to secure their cloud with one easy-to-use SaaS platform that incorporates the technologies they already trust,” said Gil Friedrich, Avanan founder and CEO.

As part of the investment, Doron will join the board of Avanan.

“We welcome Yuda to our board and are excited about the opportunity to leverage his experience and insight,” said Friedrich.

Avanan has been named a 2016 Gartner Cool Vendor and one of CRN’s 20 Coolest Cloud Security Vendors of 2016.

About Avanan

Choose your SaaS. Choose your Security. One-Click. Avanan headquarters are in New York City with R&D in Tel-Aviv. (http://www.avanan.com)

About Greenfield Cities Holdings

Greenfield Cities Holdings, L.P. (GFC), is a joint venture between TPG Growth, the middle market and growth equity investment platform of global investment firm TPG, and Yuda Doron, a successful Israeli operator, investor, and entrepreneur. GFC will partner with and invest in early growth-stage Israeli global technology and tech-enabled businesses, with an investment size of up to $20 million. The GFC team on the ground in Israel applies its years of operating experience with TPG’s global network to help strengthen and grow its portfolio companies.