Compliance and cloud security is where it is at! Evident.io secures $15.7 million round of funding

For those who think that compliance and regulatory adherence are the preserve of the grey suited, it may well be worth a second thought. This year, compliance is where the clever money is, and indeed, in London’s highly sophisticated ‘Square Mile’, compliance professionals are in high demand, with day rates for external consultants having increased on […]

Evident.io secures $15.7 million round of funding

For those who think that compliance and regulatory adherence are the preserve of the grey suited, it may well be worth a second thought.

This year, compliance is where the clever money is, and indeed, in London’s highly sophisticated ‘Square Mile’, compliance professionals are in high demand, with day rates for external consultants having increased on average by 20% to £1,200 per day.

Keeping pace with technological advancements in such a highly sophisticated digital industry as the electronic trading business is essential, and as a result, ultra-modern companies have established operations in order to provide specialist services which center around compliance.

Two weeks ago, at the FinTech Exchange 2016 event hosted by Barchart in Chicago, FinanceFeeds met with senior executives from Evident.io which exhibited its innovative approach to providing cloud infrastructure security and compliance automation to an audience which consisted of North America’s most esteemed exchange technology companies and electronic derivatives marketplaces.

Indeed, so important is the evolution of compliance systems that  Evident.io has now secured a round of funding amounting to $15.7 million from venture capital company Venrock.

Upon completing this round of funding, Tim Prendergast, co-founder and CEO of Evident.io stated

“Venrock is one of the most successful and well respected venture capital firms in the technology sector. Their support affirms our company’s high value pedigree and validates that our solutions are truly defining a new era for cloud infrastructure security, incident response, and compliance.”

As far as corporate structure is concerned, Evident.io takes a completely technological approach to compliance, and the components which form the company hail from the technology sector rather than the traditional chambers of the regulators.

The company has appointed Jeff Williams, who is Operating Partner at Bain Capital Ventures to its executive team as interim Senior Vice President of Sales.

Mr. Williams has previously held senior executive positions at FireEye, IronPort Systems which was acquired by network connectivity giant Cisco Systems in 2007 and McAfee subsidiary IntruVert Networks.

His remit at Evident.io is to expand, quite aggressively, the firm’s position within the cloud infrastructure security segment.

On joining Evident.io, Mr. Williams made a commercial statement:

“Evident.io is uniquely positioned to extend its leadership in public cloud security and compliance automation, with a value proposition that no other competitor can match,” said Williams. “With this new round of funding, and an expanded board of directors and executive team, we believe that Evident.io has the ideal combination of financial stability, leadership talent and exceptional technology to deliver tremendous value to the market.”

 

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