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CloudLock Closes 1H 2014 With 114 Percent Revenue Growth and Additional Funding

Cloud Security Provider Marks 12th Consecutive Quarter of Record Revenue and Doubles Employee Base in Last 12 Months

WALTHAM, MA -- (Marketwired) -- 08/06/14 -- CloudLock, the leading cloud information security provider, today reported the company grew its revenue in the first half of 2014 by 114 percent compared to the first half of 2013. CloudLock doubled the number of employees over the last 12 months and now has more than 80 employees. The first quarter represented CloudLock's 12th consecutive quarter of record revenue. Additionally, the company is now listed on the Salesforce1 AppExchange with its CloudLock for Salesforce product and received an investment from salesforce.com in June 2014.

Partnerships and Acquisitions
CloudLock's strong Q2 momentum underlines the company's commitment to being the security fabric for all public cloud applications. CloudLock launched its offering for Salesforce in November 2013 and rapidly gained momentum with additional solutions for Salesforce.

"We are coming off of a very successful first half of 2014 and have no plans to slow down," said Gil Zimmermann, CEO at CloudLock. "We will certainly continue to carry this momentum well into the rest of the year."

CloudLock also strengthened its existing partnership with Google, being named as one of the first Google Apps Premier Technology Partners. The Premier Technology Partner recognition is reserved for companies that have satisfied a number of crucial requirements and will allow CloudLock to continue to raise the bar on the level of support on the Google Apps platform.

CloudLock also acquired the intellectual property of Innovode Ltd, the Bristol, UK company behind Innovode Armor, in June 2014. As well, CloudLock hired the key team members behind the Innovode Armor product, an integrated encryption solution for Google Drive. Similar to CloudLock, Innovode focused on solving critical security challenges for organizations, deploying public cloud applications. The Innovode team, led by co-founders Howard Snart and Peter Spellward, has years of experience in the field of data loss prevention (DLP) and compliance. Snart and Spellward pioneered market-leading products for Orchestria and CA prior to founding Innovode.

Key Customer Wins
CloudLock added a significant number of new, noteworthy customers and worked with several current customers to strategically broaden their use of the Company's offerings in the second quarter and now exceeds 700 customers worldwide with more than 5 million users under management.

New and existing customers with significant transactions in Q2 included, Banesco Banco Universal, Damballa, HBO Latin America, Columbia University, Whirlpool, ACI Worldwide, The Museum of Modern Art, Frederick County, National Defense University and Middlesex Hospital.

Delivering rich behavioral insight based on deep content inspection, CloudLock's cloud security offering is the only multi-cloud solution in the market that detects, classifies and protects sensitive information in the cloud without any impact on end users. Delivering results in minutes, CloudLock is a cloud solution that doesn't require any hardware (physical or virtualized) such as security gateways, which can represent a single point of failure and latency for enterprises.

"We've fully embraced the cloud to transform our business, and partnering with CloudLock has allowed us to more securely leverage the power of cloud applications like Salesforce and Google Apps," said Joe Fuller, CIO of Dominion Enterprises.

CloudLock Industry Recognition

  • Named one of Network World's 25 Cool Cloud, Security & Mobile Startups to Watch in 2014
  • Awarded the TMC Cloud Computing Excellence award presented by Cloud Computing Magazine.
  • Named a finalist in the categories of CTO of the Year, nominating Ron Zalkind, CTO at CloudLock, and Innovative Technology of the Year -- Security for the 2014 Mass Technology Leadership Council (MassTLC) Technology Leadership Awards. The pool of finalists will be further narrowed during the coming weeks, with winners announced on Thursday, September 11, at the MassTLC Leadership Awards Gala at the Westin Waterfront in Boston.

About CloudLock
CloudLock is the cloud data security company. Its information security applications enable organizations to enforce regulatory, operational, and security compliance in public cloud platforms. The largest organizations in the world trust CloudLock to secure their data in the cloud, increase collaboration, and reduce their risk. For more information about the company or reseller opportunities visit www.cloudlock.com or follow CloudLock on Twitter @CloudLock.

CloudLock, CloudLock for Google and CloudLock for Salesforce are proprietary trademarks of CloudLock, Inc. All other products or names may be trademarks of their respective companies.

Salesforce, Salesforce1, AppExchange and others are among the trademarks of salesforce.com, inc.

Lisa Mokaba
InkHouse for CloudLock
781-966-4108
[email protected]

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