The company also unveiled its enterprise product, summarizing reports for cliniciansRead more...
Palerra says that 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."
Its product is called LORIC, a cloud security automation platform, which combines threat detection, predictive analytics, security configuration management, and automated incident response. It provides threat visibility and to ensure compliance of its client's cloud footprint.
For Oracle, acquiring Palerra will help the company shore up security for its own cloud offerings.
"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 said in a blog post.
"Together, Oracle and Palerra will help accelerate cloud adoption securely by providing comprehensive identity and security cloud services. The combination of Oracle Identity Cloud Service (IDaaS) and Palerra’s CASB solution plan to deliver comprehensive protection for users, applications and APIs, data, and infrastructure to secure customer adoption of cloud."
For Palerra, becoming part of Oracle gives it access to greater scale and resources.
"The combination of Oracle’s Identity Cloud Service and Palerra’s CASB platform plan to deliver comprehensive protection for users, applications and APIs, data, and infrastructure to secure enterprises in their adoption of Cloud and SaaS applications," Rohit Gupta, Founder and CEO of Palerra, wrote in his own blog post.
What will happen to Palerra going forward is unclear. At least until the transaction closes, each company will continue to operate independently. Once it does close, Gupta, along with fellow co-founder, and chief technology office, Ganesh Kirti, will be joining Oracle in some capacity.
Both of them are "excited to join Oracle and continue our entrepreneurial spirit at a much greater scale."
While Gupta reassures Palerra customers "that we will continue to provide you with the exceptional service you have come to expect of us," Oracle says it is currently reviewing the company's product roadmap and "will be providing guidance to customers in accordance with Oracle’s standard product communication policies."
Founded in 2013, Palerra had raised $25 million in venture funding from Norwest Venture Partners, Wing Venture Capital, and August Capital.