Valtix Secures Strategic Investments From Cisco Investments and TSG, Names Former Juniper and Big Switch Executive Douglas Murray CEO
Customer Adoption Accelerates and Leadership Team Expands
Valtix, the industry’s first cloud-native network security platform, announced that it has secured $12.5 million in strategic funding from Cisco Investments, Northgate Capital and The Syndicate Group. These new investors join Trinity Ventures, Vertex Ventures and Wing Venture Capital, which committed $14 million in initial funding when the company launched in 2019.
The new capital will be used to accelerate the company’s go-to-market strategy that will help Valtix scale in 2021. Valtix will also leverage extensive channel relationships in partnership with The Syndicate Group (TSG), a boutique venture capital firm with deep channel relationships across an extensive network of VARs, integrators and consultancies.
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In Q4, Valtix also expanded its leadership team with the addition of Douglas Murray as CEO, Anthony Narducci as VP of Worldwide Sales and Joe Palazola as VP of Worldwide Operations. Vishal Jain, co-founder and founding CEO takes on a new role as Chief Technology Officer. Murray, Narducci and Palazola bring a wealth of experience to Valtix working previously at companies such as Big Switch Networks, Expanse, Juniper Networks and ThousandEyes.
“Valtix has created the technology that will define the next decade of multi-cloud network security,” said Douglas Murray, CEO of Valtix. “I am thrilled to welcome new investors Cisco Investments, Northgate and The Syndicate Group to the Valtix team and to significantly expand our management team with these talented executives. Our investors have a shared view on the future of this segment, and I look forward to working with each of them to scale the business in 2021.”
“In today’s fragmented IT environment, our enterprise customers require the flexibility to orchestrate Network Security in multiple form-factors – as on-prem firewalls, virtual firewalls and cloud-native firewalls – all managed from a centralized control plane,” said Chandrodaya Prasad, senior director, Network & Cloud Workload Security at Cisco. “We are impressed with Doug and the Valtix team and thrilled to invest in the company. We look forward to enabling our customers to adopt cloud-native, multi-cloud network security.”
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“Valtix is well positioned to disrupt the cloud-native network security market as businesses increasingly move their applications into the cloud,” said Chad Cardenas, CEO, The Syndicate Group. “We are thrilled to be playing a role in helping the company grow through our channel investment program.”
The Valtix multi-cloud security platform became generally available (GA) on AWS, Azure and GCP in 2020. Entering 2021, the company now has customers live on all three clouds. Customers span financial services, healthcare, retail and government across ingress, egress and east/west security use cases.
Valtix built its platform to align with native cloud and security workflows, automating cloud app discovery, security deployment and app defense. Valtix’s “Discover, Deploy, Defend” approach is different from a traditional network security approach that simply co-locates security features. Furthermore, Valtix is designed for enterprises with a SaaS-delivered control plane and a customer-resident data plane.
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“At Bright Health we design and build software solutions to deliver the best patient and provider experiences. Our goal is to enable our customers to provide optimum care and realize better outcomes,” said Geoff Bucar, Director of Technical Operations and Information Security of Bright Health. “Cloud infrastructure security and compliance is vital to our platform and we are excited to partner with Valtix.”
“Our partnership with Valtix is a key component of our cloud migration strategy, giving us the ability to create a secure, scalable infrastructure to protect our data and applications and more effectively meet the evolving needs of our members and partners,” said Michael Rich, Senior Vice President and Chief Technology Officer at FHLBank San Francisco, a cooperatively owned wholesale bank.
“Valtix provided us with critical infrastructure to leverage cloud-based solutions to meet rapidly changing customer needs,” said Albert Chow, Director of IT of SAXX, a pioneer in the underwear industry. “By securely migrating to the cloud, we were able to drive efficiencies across our operations, simplify workflow and ensure a seamless customer experience while meeting product demand.”
“As IT leaders transform and modernize their operations, cloud technology plays a critical role helping businesses run more agile, flexible and nimble operations,” said Jon Jensen, Vice President – Cybersecurity at Presidio. “We are excited to partner with Valtix to help our clients take cloud strategy and adoption to the next level with a comprehensive security focus across all cloud environments.”
“As businesses increasingly leverage the cloud to establish an infrastructure that enables freedom and flexibility of operations, it is critical to understand the associated security risks, and put in place comprehensive, end-to-end solutions across all cloud operations,” said Jacob Elziq, Chief Executive Officer of Armature Systems. “We are delighted to partner with Valtix to help our clients assess their unique security challenges and put in place a custom solution that balances security with flexibility to meet their business needs.”
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