TokenEx, an Oklahoma City, OK-based cloud tokenization platform provider, raised $100M in Series B funding.
The round was led by K1 Investment Management.
The company intends to use the funds to invest further in its product, customer service, and account management teams as well as scaling its global operations.
Led by Alex Pezold, Founder and CEO, TokenEx is a cloud tokenization provider committed to helping organizations safely and compliantly accept, store, and transmit sensitive data. TokenEx collects data via API calls or managed file transfers before it enters an organization’s internal systems and then exchanges that sensitive data for nonsensitive data called “tokens.” These tokens can be sent to any API endpoint, creating a layer of abstraction that safeguards against cyber and ransomware attacks, while also increasing freedom, control, and interoperability for customers.
Its solution for data protection can secure and desensitize any structured data element to reduce risk, streamline operations, and enable its clients’ most critical business processes.