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:
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.
