Oracle boosts cloud security with Palerra acquisition
Mon 19 Sep 2016
As it kicks off its annual OpenWorld conference, Oracle has announced that it has acquired cloud security startup Palerra.
Co-founded by two former Oracle executives, Rohit Gupta and Ganesh Kirti, Palerra’s product, LORIC, is designed to help companies secure their applications and data across multiple cloud services. The company competes against other providers, known as Cloud Access Security Brokers (CASBs), such as Blue Coat and Netskope.
Palerra, based in Santa Clara, California, claims it was the first CASB to ‘automate the entire security lifecycle, from threat detection to remediation, in order to effectively combat cyber crime and keep enterprises secure.’
In an official letter to customers and partners, Oracle wrote: ‘Palerra offers a unique combination of visibility into cloud usage, data security, user behavior analytics, and security configuration, with automated incident responses. Customers can respond to cloud security incidents in real-time, protecting sensitive company data and workloads across all of the leading cloud services.’
Oracle continued that the deal will combine Oracle’s Identity Cloud Service and Palerra’s CASB solution to accelerate the secure adoption of cloud, delivering improved protection for users, their applications, and data.
Palerra has raised around $25 million (approx. £19 million) in venture funding, including its Series B round last year which generated $17 million. This latest round was led by August Capital and was also supported by contributions from previous investors Norwest Venture Partners, Wing Venture Capital, and Engineering Capital.
In its race to catch up with cloud giant Amazon Web Services (AWS), Oracle has invested in and acquired a string of cloud firms recently. The database giant bought cloud warehouse management app provider LogFire earlier this month for an undisclosed amount. In July, it also announced a $9.3 billion offer to buy cloud enterprise management company NetSuite, of which Oracle co-founder Larry Ellison and family owned a considerable 47.4% chunk.