Vaultree closed a $12.7 million series A growth investment round today, bringing the company’s total funding to $16 million. The series A investment is led by Molten Ventures together with Ten Eleven Ventures, and builds on Vaultree’s October 2021 seed round of $3.3 million.
Additional A-round investors include top global cybersecurity company SentinelOne, along with Elkstone Partners, CircleRock Capital, Cyber Club London and prominent cybersecurity experts. Vaultree will use proceeds from this funding round to advance sales, marketing and product development of its data-in-use encryption technology.
With data breaches at an all-time high and ransomware attacks on the rise in virtually every industry, the need for a security breakthrough is urgent. Current solutions rely on decrypting sensitive data to process it, in turn resulting in significant financial, cyber, privacy, legal and business risk in the event of a leak.
Vaultree’s end-to-end encryption makes it possible to work with encrypted data without the need to decrypt the information or surrender security keys. The solution enables searchable (SE) and fully homomorphic encryption (FHE) at close to plaintext speed – a leap forward in the secure, scalable processing of data. Unlike common data-at-rest or data-in-transit security controls, Vaultree has developed functional data-in-use encryption technology to protect data all of the time with no noticeable decline in performance.
With data in a persistent state of encryption, even when breaches happen and firewalls and other tools in the first line of defense fail, the data that bad actors are able to extract is undecipherable and therefore useless to them. Data-in-use encryption aligns with the principle of zero trust; processing encrypted search and computations over data using standard hardware without ever having to decrypt at the server level. As a standard for encryption for enterprise, Vaultree’s offering shifts the focus from superficial to foundational security.
Along with expanding the team and securing research and patent registrations, the funds will be allocated to include faster feature releases, added functionalities, bolstered security, service readiness and tech support for a growing pool of dedicated users. Key to that growing popularity among security professionals is the ability to integrate Vaultree’s data-in-use encryption solution without major technology or platform changes.
Other significant advancements unique to Vaultree’s solution include full control over keys via the user’s preferred key management server, plus the power to query and compute always-encrypted data and choose where it is decrypted. Vaultree’s offering has the potential to prevent massive financial and reputational losses, while enabling consistent business performance without disruption.
For more information, please visit www.vaultree.com.
