Data security company Virtru has raised $37.5m in Series B financing, bringing its fundraising total to $76.8m.
ICONIQ Capital led the round with participation Series A investors Bessemer Venture Partners, New Enterprise Associates, Samsung NEXT, Soros Capital, Blue Delta, and Thyra Global.
The company said the investment and continued support from its existing investors is transformative its mission to restore trust and control to the world’s data owners.
According to an announcement on its site Virtu said, “When we were introduced to the ICONIQ team, we were struck by their focus on creating positive societal change by leveraging truly unique technologies as well as a track record of nurturing long-term relationships with entrepreneurs. This focus is part of the ICONIQ DNA, an organization backed by entrepreneurs who shaped our current internet era.”
Headquartered in Washington, DC, Virtru’s mission is to eliminate the trade-off between data protection and ease-of-use. More than 7,000 organisations use its Data Protection platform to protect and control sensitive information regardless of where it’s been created, stored, or shared.
The Virtru Data Protection Platform and all Virtru-enabled applications are built on Trusted Data Format (TDF), an open standard for self-protecting data. Using the TDF, Virtru can protect and encrypt any data type and apply fine-grained access control no matter how or where data is shared.
Its solutions claims to improve an organisations data privacy posture, enabling GDPR-Compliant email & file sharing. The company enables users to send GDPR-compliant and HIPAA-compliant emails and content directly from G Suite, Office 365, and enterprise applications from any device. It also allows them to respond securely to customer requests for their data. The company enforces compliance with preconfigured rules check for personal information and automatically encrypt it before it leaves the sender’s device.
For financial services, its technogoly prevents unwanted access to financial reports, client communications, tax statements, and other proprietary or regulated information by securing content before it leaves the device. Virtru also encrypts emails and files and provides access control from content creator to consumer to meet common regulatory requirements.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
