Major Patent-Pending Technology Eliminates Trade-Offs Between Security and Performance
Vaultree, provider of Encryption-as-a-Service, has raised $3.3M in seed funding for its enhanced data security solution, the company announced today. The funding round was led by Ten Eleven Ventures. Other investors include Enterprise Ireland, Unpopular Ventures, HBAN and John N. Stewart, former chief security and trust officer at Cisco.
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Vaultree is ushering in a new era of data protection with its searchable, scalable, privacy-enhancing technology and Encryption-as-a-Service solutions. The company’s platform uses Enhanced Searchable Symmetric Encryption (ESSE) and Fully Homomorphic Encryption (FHE) technologies to enable highly regulated organizations to freely access and use their data without having to reveal their encryption keys or data content to their solution or cloud provider. It also scales seamlessly to billions of datasets without compromising performance, unlike most legacy encryption solutions.
With this latest funding, Vaultree will continue developing a market-ready product to provide customers with a fully end-to-end encrypted data protection solution that is scalable and easy to use. Vaultree’s team will continue to grow with the hiring of more engineering, cryptography, sales, and customer facing staff.
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Sarah Armstrong-Smith, Vaultree advisor and chief security advisor at Microsoft, said: “Data security threats continue to grow on a global scale as our online footprint increases and connected devices proliferate. To reduce cyberattacks and data breaches requires a fully encrypted and scalable solution, suitable for any sized business. Vaultree has developed an innovative solution to help meet these needs and work toward creating a safer digital world through data encryption.”
Timothy Newberry, EIR, Ten Eleven Ventures, said: “As experts in innovative cybersecurity technologies, the team at Ten Eleven immediately realized the massive impact Vaultree’s platform would have on the vast number of enterprises worldwide that desperately need a fast, scalable, and easy-to-integrate encryption solution as part of their data security strategy. This game-changing technology will help companies protect their customers and data at a whole new level. We are thrilled to work alongside the Vaultree founders on this journey, focusing on the data security and storage space at the right time, with the right team, and the right technology.“
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