Digital Guardian Raises $66 Million in Funding for Data Protection Solutions

Digital Guardian, a next generation data protection platform developer, has gained $66 million in funding from investors, the company announced on Wednesday.

The announcement marks the largest investment in the company’s history. The funds will be used to “accelerate revenue growth, continue product innovation and integration and expand the company’s global footprint,” according to the press release.

“Even the industry leading next gen firewalls cannot detect every threat, so corporations must prioritize protecting the data itself from exfiltration,” said Ken Levine, chief executive officer at Digital Guardian, in a statement. “We are extremely pleased to have so many high-caliber investors who recognize that requirement and the massive market need for a next generation approach to data protection.”

Previous investors including GE Pension Trust and Fairhaven Capital Partners participated in raising the funds, with new investors LLR Partners, Mass Mutual Ventures LLC and the Venture Capital Unit of Siemens Financial Services contributing as well. David Stienes of LLR Partners has joined Digital Guardian’s board of directors as part of his company’s involvement in the deal.

“Information security is now a board level issue for every global organization. This dynamic has created a tremendous market opportunity for a company that provides effective data protection solutions,” said Stienes. “We were very impressed with Digital Guardian’s ability to deliver those solutions across endpoint, network and in the cloud and it made our decision to invest an easy one.”

Digital Guardian has reported several gains in 2015, including a 50 percent year over year growth in bookings as well as 132 percent year over year revenue growth for its managed services business. The company also added 50 new partners as part of the launch of its global channel program, called DG Synergy, and acquired Savant Protection and Code Green Networks in May and October, respectively.