ShardSecure, a data protection company, has closed its seed round to support platform development.
SineWave Ventures led the investment, with contributions also coming from 500 Startups, CTM Insights and cybersecurity expert Tom Noonan. In conjunction with the deal, Noonan and SineWave Ventures general partner Pat Muoio have joined the ShardSecure board of directors.
Capital from this round will be used to increase product development of its data protection technology and boost sales and marketing efforts.
The company’s platform breaks sensitive data into small fragments which are distributed across multiple clouds and mixed with false data shards, making it impossible for a hacker to reassemble it.
ShardSecure CEO and co-founder Bob Lam said, “Cloud-related data breaches such as this summer’s Capital One hack confirm that cloud misconfiguration risks remain the top concern for major enterprises in their cloud migration journey.
“ShardSecure’s Microshard data protection technology significantly mitigates cloud misconfiguration risks and allows customers to avoid the financial and reputational damages caused by data breaches in the cloud. We’re thrilled to have the backing of SineWave and other co-investors in bringing ShardSecure’s Microshard technology to market in 2020.”
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