iboss Raises $145 Million to Aid Remote Work Security

Cybersecurity firm iboss has raised an additional $145 million as the company continues to focus on cloud-based security.

With an unprecedented number of employees working from home, companies have been forced to rethink security. With on-premise security, hardware plays a critical role in keeping corporate networks and resources secure. In contrast, remote work relies more heavily on software-based security.

Iboss is a cybersecurity firm specializing in cloud-based security. The company recently won “a coveted Platinum 2020 ‘ASTORS’ Homeland Security Award from American Security Today for Best Network Security Solution.” The company has now raised an additional $145 million in funding as it looks to eventually have an IPO.

“COVID-19 has exposed massive vulnerabilities with outdated, hardware-based cybersecurity solutions and accelerated the timeline of moving away from the old method of securing physical office perimeters,” said iboss CEO Paul Martini. “Implementing modern architecture that provides network security in the cloud is the best way to ensure safety and productivity, even as remote workers rely more and more on fast connections for things like video meetings and online productivity apps.”

Iboss’ funding round is further evidence of how important cybersecurity has become, especially with the rise of remote work.