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Cloud Data Encryption Specialist Vaultive Receives an $8 Million Investment

January 22, 2015

Cloud data encryption specialist Vaultive has received an $8 million investment in a financing round led by venture capital firms .406 Ventures, New Science Ventures and Harmony Partners. The company provides a range of encryption services for businesses moving to the cloud. Its solutions mitigate risk by ensuring customers retain full control of their data.

Vaultive's solutions follow best practices related to corporate data as those laid out by the Cloud Security Alliance. The company caters to the needs of businesses of a range of sizes and in a range of areas, including financial services, legal and professional services, manufacturing, retail, and the media. Its solutions secure encryption keys to allow users to "retain the freedom to use the cloud applications professionals rely on, while ensuring the governance and security that the business demands".

News of securing its latest round of investment came alongside the announcement that Vaultive had strengthened its executive team. Mr. Jonas Hellgren is now President and CEO, while Mr. David Kahan is CFO and General Counsel.

Mr. Hellgren is a 20-year industry veteran with a focus on business management and strategic development. His role at Vaultive will be to ensure the company's growth in markets where its encryption offerings are utilized. His previous appointments have included Jumptap's SVP of Operations and Verisign's SVP, Managed Security Services. Mr. Kahan also brings 20 years experience to his new role. He has worked in executive positions in companies like Jumptap and Millennial Media. His role with Vaultive will be to "manage the company's financial, legal and administrative functions".

"This funding will enable us to strengthen our position as a leader in cloud data encryption -- one of the hottest sectors in the technology market," explained Mr. Hellgren. "The team at Vaultive developed and brought to market the most robust, enterprise-grade data encryption platform available. Organizations of all sizes -- from Fortune 500 companies to SMBs -- are now placing a premium on security, privacy, ownership, and control of their data. Customers using Vaultive's platform assert they could not have migrated their critical data to the cloud without Vaultive. With the additional funding we will focus on operational execution, accelerating growth, and scaling our business."

Do you know of any other companies receiving investment? What about industry players taking on new roles? Let us know the details. Add your comments below.

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