Altitude Networks, a cloud collaboration security solution, has netted $9m in a Series A round which was led by Felicis Ventures.
Other contributions to the round came from Slack Fund, previous investor Accomplice, and angel Alex Stamos, director of the Stanford Internet Observatory.
As part of the deal, Felicis founder and managing director Aydin Senkut will join the Altitude Networks board of directors.
The new wave of capital is earmarked for company growth and customer acquisition strategies.
Altitude Networks aims to combat data security in cloud environments and protect businesses from unauthorised data access, accidental or malicious sharing of information, and data theft.
In addition to monitoring personally identifiable information and payment information, Altitude checks privileged and sensitive materials for potentially damaging sharing. This includes, legal documents, internal financial data, or confidential product roadmaps shared with unauthorized internal or external accounts or even personal Gmail accounts
Some of the use cases of its services include protecting information from offboarding employees, ensuring ex-contractors no longer have data access, stopping the sharing of files to personal accounts, and others.
Felicis Ventures founder and managing director Aydin Senkut said, “Cloud services will continue to gain market share as organizations look to cut costs while providing the best collaboration tools available to drive the business forward.
“What Altitude has built will enable businesses to embrace cloud tools while mitigating the risk factors with file sharing, data access and data leakage. The market opportunity for Altitude is tremendous as it applies to anyone using SaaS applications who wants control over their data.”
Earlier in the month, Felicis Ventures participated in the $15m Series A round of data-residency-as-a-service platform InCountry. The company provides tools such as localised encryption, and data handling capabilities within borders.
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