ShardSecure, a NYC-based cloud cybersecurity company, raised USD11m in Series A funding.
The round was led by Grotech Ventures, with participation from Gula Tech Adventures and KPMG LLP, as well as existing investors Tom Noonan, EPIC Ventures, and Industrifonden. As part of the investment, Steve Fredrick, General Partner of Grotech Ventures, and Ron Gula, Co-Founder and President of Gula Tech Adventures and Co-Founder and former CEO of Tenable (TENB), will join ShardSecure’s board.
The company intends to use the funds for continued product development and third-party product integrations — and expansion of its sales and marketing operations in North America and Europe.
Led by Bob Lam, Co-Founder and CEO, ShardSecure is the inventor of Microshard™ technology that mitigates data security and privacy risks in the cloud. The Microshard process to shred, mix, and distribute data renders data unintelligible and of no value to attackers, mitigating the risk of data compromise. Among the primary innovations of Microshard technology is its self-healing data, which reverses unauthorized data deletion and tampering (including ransomware) for data at rest. Virtual clusters support high-availability and failover functionality within a cluster and among multiple clusters to help ensure that critical data at rest stays secure and available. ShardSecure also supports business continuity through its approach of distributing Microshard data to multiple customer-provided storage locations and its RAID-5-like ability to recreate data impacted by storage service outages. This approach protects against the risk of data loss and allows business operations to continue unaffected during an outage.
Key customers include major financial firms, healthcare and pharmaceutical organizations, global technology businesses, and companies in other regulated industries.
FinSMEs
25/05/2022