Vaultree, a Cork, Ireland-based provider of Encryption-as-a-Service, announced that it raised $3.3 million in seed funding for its enhanced data security solution.
The funding round was led by Ten Eleven Ventures, other investors include Enterprise Ireland, Unpopular Ventures, HBAN, and John N. Stewart, former chief security and trust officer at Cisco.
With this latest funding, Vaultree will continue developing a market-ready product to provide customers with a fully end-to-end encrypted data protection solution that is scalable and easy to use. Vaultree's team will continue to grow with the hiring of more engineering, cryptography, sales, and customer-facing staff.
Company: Vaultree Limited
Raised: $3.3M
Round: Seed Round
Funding Month: November 2021
Lead Investors: Ten Eleven Ventures
Additional Investors: Enterprise Ireland, Unpopular Ventures, HBAN, and John N. Stewart
Company Website: https://www.vaultree.com/
Software Category: Encryption-as-a-Service solution
About the Company: Vaultree's Encryption-as-a-Service solution enables businesses of all sizes to process fully end-to-end encrypted data. Easy to use and integrate, Vaultree delivers peak performance without compromising security, neutralizing the weak spots of traditional encryption. Vaultree is ushering in a new era of data protection with its searchable, scalable, privacy-enhancing technology and Encryption-as-a-Service solutions. The company's platform uses Enhanced Searchable Symmetric Encryption (ESSE) and Fully Homomorphic Encryption (FHE) technologies to enable highly regulated organizations to freely access and use their data without having to reveal their encryption keys or data content to their solution or cloud provider. It also scales seamlessly to billions of datasets without compromising performance, unlike most legacy encryption solutions.
Source: https://www.prnewswire.com/news-releases/vaultree-raises-3-3m-for-next-gen-encryption-solution-301413733.html