Japanese telecom giant SoftBank is leading a $16.5 Million “strategic” investment into Dome9 Security, an Israeli cloud infrastructure security company.
Founded out of Tel Aviv in 2010, Dome9 targets enterprises with a SaaS (software as a service) platform that helps them assess their network security and detect potential misconfigurations, while simultaneously protecting against cyberattacks.
A recent Gartner report suggested that the global public cloud services market is set to grow 18 percent in 2017, reaching a whopping $247 billion. More specifically, Gartner forecasts that the highest growth will come from cloud system infrastructure services, otherwise known as infrastructure as a service [IaaS]), which is touted to grow this year by 36.8 percent to $34.6 billion.
And this is Dome9’s sweet spot — it’s stated goal is to make “bulletproof security a reality for every public IaaS cloud at any scale.”
Its latest cash injection takes the company’s total amount raised to $29 million, and it says that it will use its newfound wealth to boost its global growth. SoftBank’s involvement here is no accident either — as part of the deal, SoftBank will become the “leading distributor” of Dome9’s security platform in Japan.
“As enterprise adoption of the cloud continues to accelerate, there is a growing need for cloud-native solutions that simplify security operations and compliance,” said Masayuki Motoshima, director of cybersecurity business development at SoftBank. “Dome9’s strong traction in the enterprise market attests to the value the technology delivers, and led to our decision to invest.”
Today’s news comes a year after SoftBank launched a joint venture in conjunction with Chinese tech titan Alibaba. “SB Cloud” combines the collective technologies from the two companies, and is the precursor to a new data center that will provide public cloud computing services in Japan, powered by Alibaba Cloud.