Wednesday, August 24, 2016

Virtru Raises $29 Million for Trusted Data Format Encryption

Virtru, a start-up specializing in encryption and data protection, announced $29 million in Series A financing led by Bessemer Venture Partners (BVP) with New Enterprise Associates (NEA), Soros Fund Management, Haystack Partners, Quadrant Capital Advisors, and Blue Delta Capital also participating in the round.

Virtru, which first launched in 2014, provides email and file encryption to more than 4,000 organizations around the world. The Virtru solution integrates encryption, access control, and data loss prevention (DLP) into tools like Gmail, Google Drive, and Microsoft Outlook.

The company's innovations and patented technologies include full-text search of encrypted content and the ability to use existing identity for authentication -- ensuring that customers no longer need to trade privacy for convenience. Virtru will use the new capital to accelerate support for cloud platforms like Microsoft Office 365 and extending its SDKs and APIs for software developers to integrate Virtru into their applications.

Virtru's architecture is built on the Trusted Data Format (TDF), an open-source technology invented by company Co-Founder Will Ackerly, a former cloud security architect at the NSA. Unlike network-based approaches to security such as firewalls and intrusion prevention systems, Virtru protects the data itself, throughout its lifespan and wherever it travels. Each content object is wrapped in its own secure envelope that can only be accessed by authorized parties. Customers manage their own encryption keys and access privileges can be revoked or changed at any time, even after content has been opened or shared.

"We've always been about making it easy for people to take back control of their private information, on their terms and without unnecessary complexity," said John Ackerly, CEO and Co-Founder of Virtru. "With the new funding and the support of best security and privacy investors and operators in the industry, we will take our mission to more businesses, software developers and individuals around the world."

http://www.virtru.com

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