Oracle Snaps Up This Startup to Boost Cloud Security
Just before kicking off its annual Oracle OpenWorld tech conference, the database giant said it is buying Palerra, a startup that aims to help companies be able to use cloud computing resources securely. Terms were not disclosed.
Palerra’s product, called LORIC, is meant to ensure that applications and data stored across multiple cloud services is handled in a safe and secure manner. Palerra competes in a class of products known by techies as Cloud Access Security Brokers (CASBs). Competitors include Blue Coat and Netskope.
The company was co-founded by two former Oracle executives, Rohit Gupta and Ganesh Kirti.
The Santa Clara, Calif., company has raised about $25 million in venture funding, including a $17 million Series B round last year led by August Capital with contributions from past backers Norwest Venture Partners, Wing Venture Capital, and Engineering Capital.
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Oracle (ORCL), which leads the market in databases, is nothing if not acquisitive. It bought Logfire, which offers cloud-based warehouse management capabilities for an undisclosed amount on Sept. 6. And it announced a $9.3 billion plan to buy NetSuite, which offers cloud-based enterprise resource management or inventory management and accounting software, in late July. NetSuite was also founded by former Oracle execs. Oracle co-founder Larry Ellison owned a big chunk of NetSuite.
As more companies of all sizes use online software from different sources, maybe Salesforce (CRM)for sales, NetSuite for ERP, and Workday (WDAY) for human resources management, for example, there is a burgeoning need to make sure all those transactions are secure.