- Daily Zen
This is the time when various industries are depending on computer-generated software for the storage of all kinds of data. Be it confidential data about the strategies of a company or photographs of a family trip, people save it on cloud-based software to ensure proper security of the same. There is a possibility that a hard disk might crash but such software always comes with backup options for the revival of the data. Taking into consideration the growing importance and usage of cloud, SoftBank invests in a company which excels in producing such software. It is investing $16.5 million in Dome9 Security which is a cloud infrastructure security company.
Established in the year 2010, Dome9 Security is beneficial for enterprises to help in the assessment of network security and also detect any potential misconfigurations which may exist. But mainly it expertly deals with providing solutions to protect data against cyber attacks. The company initially had its headquarters in Israel but has now moved it to Mountain View in California. A recent report stated that the company will achieve 18 percent growth in 2017. This growth spurt will raise its market value to $247 billion. Dome9 has also announced that it will soon come up with bulletproof security for cloud encryption at any scale. Such reports convinced SoftBank to carry out this investment as a strategic move for a better profit of the company.
As SoftBank invests in Dome9, the cloud security company’s total value has already gone up to $29 million. This investment was no spontaneous decision but a well-planned move. SoftBank was aware of the impressive advancements of Dome9. It decided to invest in its developing stage so that it can cash upon the company’s success in near future. SoftBank will be the leading distributor in Japan for the security platform of Dome9. Dome9 believes that the financial help will be helpful in boosting the company for global growth.
There is a growing need for cloud-friendly solutions that make security operations and compliance simpler. This is why SoftBank invests in Dome9. Masayuki Motoshima, Director of Cyber Security Business Development at the Japanese telecom giant. The main reason behind the investment is Dome9’s strong hold in the technological market due to the services it delivers. Through such an investment, the customers at SoftBank have an assurance of the absolute security of their data.