Vaultive, a NYC-based provider of cloud data encryption solutions, has completed a $10m funding.
The round was led by .406 Ventures, New Science Ventures and Harmony Partners.
Maria Cirino of .406 Ventures, and Somu Subramaniam of New Science Ventures, have joined Vaultive’s Board of Directors. Following the round, security industry leader Elad Yoran, who initially funded the company along with his brother Amit, becomes Chairman and CEO.
Founded in 2009 by Ben Matzkel and Maayan Tal, the company is currently in beta for its first product, Vaultive for Hosted Exchange, a patent-pending enterprise-class encryption solution designed to meet the specific business challenges and technological requirements of Hosted Exchange environments, including Microsoft® Office 365, that delivers this type of searchable, sort-able and index-able encryption.
The product is scheduled for general availability in April 2012.
Vaultive works to ensure that sensitive data never leaves the customer’s enterprise in unencrypted form, and eliminate security risks and concerns about data residency and disclosure while simultaneously achieving compliance with regulatory requirements such as: SOX, GLBA, HIPAA, HITECH and PCI-DSS. The company also plans future support for additional cloud applications including SaaS email, CRM, collaboration and communication applications, as well support for custom cloud applications.
Vaultive, which also has R&D facilities in Tel-Aviv, Israel, is currently hiring (http://www.vaultive.com/contact-us/careers-2/).