Data governance and protection technology developer ALTR has scored $15m in its new financing round.
Capital from the round was supplied by unnamed existing investors from institutional and private sources in the cybersecurity, IT, and financial services industries.
Following the close of the round, the RegTech plans to enhance its position in the market and broaden its market reach to meet new trends in cloud security and development.
ALTR has built a solution which protects businesses from the threat of data breaches and intrusions. Its service empowers developers to embed data monitoring, governance and at-rest protection at the application layer.
The company offers an API and scalable database, which leverags blockchain technology, to safeguard data.
ALTR CEO Dave Sikora said, “Across industries, from financial institutions looking to improve service while protecting personal financial information, to healthcare and medical services providers looking to improve outcomes while protecting patient privacy, ALTR DSaaS more succinctly fits the immediate security and governance needs of companies in a unified world of big data, hyper-networked computing, and intensified data management dictates.”
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