Cloud security startups are booming and SkyHigh Network’s recent $40 million venture capital infusion is evidence of this boom. The Cupertino, California based SkyHigh Networks gives system administrators insight into which cloud apps end users are utilizing on their desktops. This insight can help prevent insider attacks before they happen. SkyHigh also protects against data leaks from malicious insiders who are trying to leak sensitive information such as corporate data by utilizing services such as DropBox or OneDrive.
The Financial Times recently wrote up a piece about SkyHigh’s new venture capital infusion as well as the partners involved with the deal. SkyHigh mentioned that one corporate banking CIO thought there were only 40-50 cloud apps being utilized within his environment. After SkyHigh was implemented, the CIO was alarmed to find that over 1,000 cloud apps were being used on employee personal computers. Having your network wide open for all cloud apps to access is much like locking your front door, your windows and installing a security system only for you to leave the back door wide open for those to walk in and out as they please.
Allowing end users to fully utilize cloud apps on their desktops opens up big corporations to immediate security risks. Essentially, corporations that operate without the protection that SkyHigh Networks offers trust their end users to not walk out the door with sensitive corporate data. SkyHigh Networks offers a proactive solution to corporations to prevent such occurrences from happening.
Rajiv Gupta, founder of SkyHigh mentions, “In general, [in the US] they are more concerned about insider threats, hackers and third-party nation-states than the US government looking into their bank accounts, the NSA looking into their affairs.” Asheem Chandra who works with Greylock, an investor in SkyHigh, says that “There’s a strong investment climate right now for cyber security companies. Security has always been a top priority, but at this point in time, particularly for large companies, the security budget is growing even if the IT budget is flat or declining.”