Calamu, a company that is building technology to help firms recover from ransomware attacks, has bagged $16.5m in funding.
The financing round was led by Insight Partners and saw participation from existing seed investor Dell Technologies Capital. To date, Calamu has raised a total of $20m since its inception.
Calamu has developed Calamu Protect, a data protection technology that turns data into valueless fragments and scatters them to multiple storage locations automatically.
Data is instantly reassembled when called for by an authorised application or user. In the event of a cyberattack, Calamu’s patented self-healing technology mitigates any impact by reconstituting data to its original and uncorrupted condition.
Calamu claims it will use the funding to accelerate team expansion and further evolve the product platform.
Calamu chief executive Paul Lewis explained that the technology prevents attackers from getting anything of value and allows authorized users and applications to continue accessing pristine data as if nothing happened.
According to Calumu’s CEO Paul Lewis, the company’s technology prevents attackers from getting anything of value and enables authorised users and applications to continue accessing pristine data as if nothing happened.
Calamu added, “Keeping sensitive data out of enemy hands is a top priority for the enterprise given the constant threat of ransomware and increased pressure from regulators. Hackers continue to breach enterprise data systems whether the data is stored in the cloud or on-premises, and have found ways to bypass defensive tactics and cripple operations. Data protected with Calamu is useless to the hacker if stolen, and automatically self-heals if attacked by ransomware.”
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Copyright © 2018 RegTech Analyst