OpenDNS raises $35m to grow cloud-based network security
OpenDNS, a company which provides a cloud-based network security service for enterprises announced Thursday that it has raised $35m in funding from Cisco, Sequoia Capital and Greylock Partners among others. It plans to use the cash to grow its security as a service solution.
OpenDNS’ offering combines DNS services with a managed network security service that tracks devices and traffic and helps mitigate malware or denial of service threats. But it also adds predictive intelligence capabilities by using big data analytics to metabolise real-time behaviour and machine learning algorithms to automate mitigating action.
“We’re in a new age of enterprise computing, where people work and access the internet outside the office, use cloud applications, store their data in the cloud, and are increasingly on mobile devices, many of which are owned by individuals, and not the enterprise,” said David Ulevitch, chief executive officer and founder of OpenDNS.
“As a result, the old ways of installing desktop AV and sticking a security appliance at the edge of your network are no longer effective.”
The company claims to have had 100 per cent uptime since its launch in 2006, and about 50 million daily users globally.
“We’re going to use the funding to hire more engineers and researchers, to improve our free services, and to accelerate our go-to-market efforts as a leading enterprise security company,” he added.
Targeting the network has become an increasingly important component of enterprise IT security, particularly with the explosion of malware and denial of service attacks.
The trend has seen more emphasis place on cloud-based security services, which can act as a security perimeter without needing to install anything with a datacentre. According to Gartner, the cloud-based security market with grow from $2.1bn in 2013 to $3.bn by 2015.