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FireHost Raises $25 Million to Fuel Growth of Secure Hosting Business

21
Apr
2014

FireHost, a Dallas-based cloud hosting provider that has made security the focus of its offerings, recently announced a $25 million Series E funding round led by its longtime investor, The Stephens Group, a family-owned private equity firm based in Little Rock, Arkansas.

The new funding will be used to further the company’s product development, sales, and brand awareness, the company said.

“FireHost is taking a significant step forward in realizing its vision to provide secure clouds to a range of customers, particularly those with the most demanding compliance and data protection needs,” said Robert Covington, The Stephens Group. “This is a very focused company dedicated to serving customers and a leader in the increasingly important market of secure clouds.”

Last month the company announced that Jim Lewandowski had been named as the new chief executive officer (CEO) of the company, replacing founder and former CEO Chris Drake will took over as chief technology officer (CTO).

“This funding round allows us to invest further in the technology required to provide our customers the type of secure cloud computing they have come to expect from FireHost,” Lewandowski said.

“There can be no compromise or tolerance when it comes to security, and FireHost’s business is predicated on that principle,” he added. “We want computing users throughout the world to gain the benefits of the cloud knowing that they are protected from threats. We remain humble and emboldened for the next phase of what FireHost can do for its customers.”

In June 2013, FireHost raised $12 million in a Series D funding round, roughly nine months after the company announced that it had raised $10 million. FireHost has raised a total of $59 million in three years.

The company said it has doubled revenue in each of the past three years.

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Managing Editor, SecurityWeek.Previous Columns by Mike Lennon:FireHost Raises $25 Million to Fuel Growth of Secure Hosting BusinessKaspersky Lab Names New North America Chief, Unveils Enterprise Security Strategy Heartbleed Flaw Used to Bypass Two-factor Authentication, Hijack User Sessions: MandiantConfirmed: Heartbleed Exposes Web Servers Private SSL Keys Just One-Third of Organizations Discover Breaches on Their Own: Mandiant

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