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CloudLock Acquires Innovode Intellectual Property

June 21, 2014

CloudLock reported that it has acquired the intellectual property of Innovode and hired the key team members of the Bristol, UK company behind Innovode Armor, an integrated encryption solution for Google Drive.

According to a release from the Company, similar to CloudLock, Innovode has focused on solving critical security challenges for organizations, deploying public cloud applications. The Innovode team, led by co-founders Howard Snart and Peter Spellward, has years of experience in the field of data loss prevention (DLP) and compliance.

"We're extraordinarily pleased to welcome the Innovode team to the CloudLock family," said CloudLock CEO Gil Zimmermann. "The team shares our culture and entrepreneurial spirit. Innovode's technology and core expertise will help us to continue to be innovative and customer-centric, helping organizations accelerate the adoption of public cloud applications securely."

The Company said that the Innovode acquisition follows CloudLock securing a Series C of funding of $16.5 million in January 2014 with the goal to fuel Company growth through product acceleration, an increased investment in customer success and global expansion starting with a UK presence.

CloudLock is a cloud data security company.

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Source: Professional Services Close - Up

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