DivvyCloud announces $19M growth round - Technical.ly DC

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May 1, 2019 2:56 pm

DivvyCloud announces $19M growth round

The company said it will use this Series B investment to advance its cloud security and compliance solution tech, expand sales and marketing efforts and expand its customer success program.
Cloud computing.

Cloud computing.

(Photo via @DivvyCloud on Twitter)

Arlington,Va.-based DivvyCloud, a developer of technology to automate and manage cloud infrastructure that businesses use to improve security, has announced a $19 million Series B growth round led by Providence Strategic Growth, with participation from MissionOG and RTP Ventures, a press release states.

The DivvyCloud platform allows for enterprises to manage their existing cloud infrastructure with 125 standard bots to find and address policy infringements or security issues, Technical.ly DC previously reported.

Founded in 2013, the company said this growth round brings its total capital raise to $29 million to date. In 2017, DivvyCloud announced a $6 million Series A round that came with hiring plans and a new office. The company said it will use the Series B investment to advance its cloud security and compliance solution tech, expand sales and marketing efforts and expand its customer success program.

“Most enterprise companies are implementing a multi-cloud strategy and require a platform that allows them to fully embrace self-service access without losing control,” Brian J. Shin, managing director of Providence Strategic Growth said in a statement. “In the cloud era, security cannot be an impediment to innovation. Importantly, DivvyCloud delivers a strategy for companies to have their cake and eat it too – unrestricted access to cloud services for developers to drive innovation and a robust approach to improving security and compliance. The impact of DivvyCloud’s best-in-class software platform has been proven by impressive customer adoption and retention.”

In the last year, DivvyCloud said it has not only doubled its staff, but it has also doubled its customer base that includes large companies like Kroger, CosStar and Pizza Hut. With the increase in staffing, the company also recently brought on Scott Totman as its head of engineering and product development in December. Totman previously worked as the head of digital product engineering at Capital One for more than six years. With this investment, Shin also joined DivvyCloud’s board of directors.

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“With this funding, we intend to deliver specific product advancements; strengthen support for containers, cloud identity, and serverless; and broaden our market penetration to benefit companies around the globe,” Brian Johnson, CEO and cofounder of DivvyCloud said in a statement. “Our goal is to enable every enterprise in the world to be able to confidently and securely embrace cloud services to drive rapid innovation.”

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