202225 May

ShardSecure® Secures $11M in Series A Funding

Summary

NEW YORK, NY [May 25, 2022]: ShardSecure, inventor of Microshard technology that mitigates data security and privacy risks in the cloud, has closed an oversubscribed $11M Series A funding round led by Grotech Ventures, with significant 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 ShardSecures board.ShardSecure has experienced strong customer traction since releasing Microshard technology in late 2020. This approach protects against the risk of data loss and allows business operations to continue unaffected during an outage.Data is a critical asset for every modern enterprise, particularly with the acceleration of cloud adoption. We look forward to collaborating with ShardSecure to help our clients secure their data, protect against ransomware attacks, and implement robust disaster recovery and business continuity processes. We are truly excited to be a part of this journey.We are honored and humbled to be backed by well-known security VCs and cyber company unicorn builders including Steve, Ron, and Tom, and were pleased that our existing investors continue to invest in us. Were also thrilled that KPMG, one of the worlds top cyber consulting and advisory firms, is joining our journey to secure sensitive data in the cloud as a strategic investor, said Bob Lam, Co-Founder and CEO of ShardSecure.The Series A funding will be used to further grow ShardSecures cloud data security platform including continued product development and third-party product integrations and expand its sales and marketing operations in North America and Europe.KPMG LLP is the U.S. member firm of the KPMG global organization of independent professional services firms providing audit, tax, and advisory services.

Source: Shardsecure

Classifications

Companies