MARKET MOVEMENT
Cloudflare acquires BastionZero bringing Zero Trust Infrastructure controls into Cloudflare One
Cloudflare announced acquisition of
BastionZero , a Zero Trust infrastructure access platform , to further strengthen remote access to core IT systems for customers of Cloudflare One , the company ’ s secure access service edge , SASE platform .
Combined with existing Cloudflare One capabilities , the acquisition of BastionZero gives IT and security teams Zero Trust controls for infrastructure like servers , Kubernetes clusters , and databases . This expands the scope of Cloudflare ’ s VPN replacement solution beyond apps and networks to infrastructure resources . As a result , security teams can centralise management of even more of their hybrid IT environment , while using standard Zero Trust practices to keep DevOps teams productive and secure .
With traditional virtual private network security set-ups , developers and systems architects are granted overly permissive and long-lived access to a company ’ s most sensitive systems , such as servers and databases . In a world of hybrid work , this is an increasingly costly , risky , and outdated approach , hindering the ability to securely deploy new systems and react to a fastchanging business environment .
“ The world of work has changed dramatically . Employees have the expectation that they can effectively do their work from anywhere . There is no reason teams managing an organisation ’ s most important systems cannot have the same flexibility ,” said Matthew Prince , co-founder and CEO , Cloudflare .
Matthew Prince
Incorporating BastionZero into Cloudflare One gives IT teams access to an organisation ’ s most critical inner workings securely , wherever they are . Millions of organisations around the world trust Cloudflare to protect their systems and data so they can focus on their business and their customers .
Cloudflare One is a key part of Cloudflare ’ s connectivity cloud , enabling organisations to bring more IT security tools onto a single platform and making it easier to implement secure access to all their resources .
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Risk platform , AuditBoard to be acquired by European software investor , Hg for over $ 3 billion
AuditBoard , a connected risk platform transforming audit , risk , compliance and ESG management , announced that it has reached an agreement to be acquired in a transaction valued at over $ 3 billion , by Hg , an experienced and global investor in compliance , risk and accounting software over the last 20 years .
Hg , an investor in European and transatlantic software and services businesses , will help fuel further growth at AuditBoard , as the company continues to expand its platform and global reach .
The deal validates AuditBoard ’ s customer centric approach and potent combination of innovative technology , like the recently
Alan Cline Michael Brown announced AuditBoard AI , and domain expertise at a time when demand for its connected risk platform and related solutions is fuelling rapid global growth .
Founded in 2014 , AuditBoard announced earlier this year it had crossed a milestone of $ 200 million in annual recurring revenue during late 2023 . Its last funding round took place in 2018 , a Series B led by Battery Ventures , the firm ’ s largest institutional shareholder . Hg has a long and successful history of investing in enterprise software companies over the last 20 years . Hg will use its experience to support AuditBoard ’ s differentiated offerings as it continues to scale , focusing on product innovation , international growth , and customer success .
“ We are absolutely delighted to invest in such an incredible SaaS success story , led by our San Francisco team less than two years after opening our West Coast office , demonstrating the strength of our North American franchise ,” said Alan Cline , Head of North America at Hg .
“ AuditBoard is a special company , customer-first , product-led , and one that has bucked recent industry trends by running in an extremely capital-efficient manner , instead of continually raising more funding ,” said Michael Brown , a Battery Ventures General Partner and AuditBoard board member . •
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