Cisco To Buy CloudLock by PitchBook
Cisco (NASDAQ: CSCO) has announced its intent to acquire CloudLock, a security business that provides its customers with visibility and privacy control over content shared in cloud applications. Cisco will pay $293 million in cash and assumed equity awards in the deal, plus additional retention-based incentives.
CloudLock, which launched its product in 2011, raised its first institutional financing in 2008, receiving $3 million in a round led by Cedar Fund. Altogether, the company has raised just over $35 million in VC funding. Here’s a look at its complete financing and valuation history, raised from investors including Ascent Venture Partners, Bessemer Venture Partners and Salesforce Ventures:
At the end of last week, Bruce Greenwald, the founding director of the Heilbrunn Center for Graham and Dodd Investing at Columbia Business School, sat down for a Fireside Chat with Li Lu, the founder and chairman of Himalaya Capital as part of the 13th Columbia China Business Conference. The chat spanned many different topics, Read More
March 2008: $3M Series A/$7.4M valuation
March 2012: $8.7M Series B/$19.9M valuation
July 2014: $17M Series C/$69.1M valuation
November 2014: $6.7M Late Stage/$118M valuation
Once the deal closes, CloudLock will become the 20th VC-backed company purchased by Cisco since the beginning of 2013, according to the PitchBook Platform, joining a list that includes Sourcefire, Jasper, OpenDNS and Composite Software.