Cloud Security Startup Avanan Raises $25 Million

Cloud security startup Avanan Inc. has raised a $25 million series B round from existing investors StageOne Ventures, Magma Venture Partners, and TPG's Israeli arm Greenfield Partners, Avanan announced Monday. The investment brings Avanan's total funding to date to $41 million.

Founded in 2014, New York-headquartered Avanan employs some 60 people, half of them in Israel.

Avanan offers organizations a cloud-based platform for monitoring and protecting employee usage of public applications. Its customers include both private corporations and government entities. The company states it has increased its customer count ten times over the past year and now provides its services to over a million end users.