Data protection platform Virtru collects $60m

 Data protection platform developer Virtru has collected $60m in an investment round as it looks to bolster its team.

Existing investor ICONIQ Growth co-led the round with first-time backer Foundry Capital. Other participants to the round include Tiger Global, MC2, Bessemer Venture Partners and New Enterprise Associates.

As part of the deal, Michael Chertoff, former Secretary of the Department of Homeland Security, and Jon Ein, CEO of Foundry Capital, will join Virtru’s board of directors.

With the funds, the company plans to accelerate the delivery of new products across its data protection portfolio and hire more sales and marketing professionals.

Based in Washington, Virtru helps companies protect their data through encryption for Gmail, Google Drive, Google Cloud, Outlook and more.

The platform support compliance for HIPAA, ITAR, GDPR, CJIS, NIST CUI, CCPA and FERPA.

Its technology is used by over 7,000 organisations to safeguard and encrypt sensitive data from emails and file-sharing platforms, SaaS applications and cloud environments.

ICONIQ Growth founding partner Will Griffith said, “We originally invested in Virtru because we believed that the TDF was one of the most innovative approaches to protecting sensitive data flowing through enterprise workflows.

“Fast forward to today, and Virtru has now protected more than 1 billion digital assets. This latest investment reflects our strong belief that the company is well positioned to serve as the data-centric policy control plane for all things Zero Trust.”

The RegTech company previously raised $37.5m in its Series B funding round, which was also led by ICONIQ Growth.


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