Ireland-based On Wednesday, Vaultree announced that it had raised $12.8 million in Series A funding for its data-in-use encryption technology.
Molten Ventures and Ten Eleven Ventures led the investment, which brings the startup’s total funding to more than $16 million, with participation from SentinelOne, Elkstone Partners, CircleRock Capital, Cyber Club London, and angel investors. The funds will go toward increasing sales, marketing, and product development. Vaultree has created a fully functional data-in-use encryption solution that can assist organizations in mitigating the risks associated with a data breach.
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The solution is intended to enable users to process data without having to surrender encryption keys or decrypt the data on the server side, rendering the data useless to threat actors who gain access to a customer’s systems.
Read More: Vaultree Raises $12.8 Million for Data-in-Use Encryption Solution
