Context-based security service deviceTRUST has scored a seven-digit Series A investment round.
The capital injection was supported by Hessen Kapital and seed-backer High-Tech Gründerfonds.
With the fresh funds, the company is looking to further its European expansion efforts of its sales and marketing efforts. Alongside this, capital will be used for product development and expanding its technology.
Companies utilising deviceTRUST can enable employees to work from any location while maintaining security through context such as location, status of security components, network connections, hardware used and user rights. Employees and external partners can work remotely while adhering to all security and compliance requirements of a company.
deviceTRUST co-founder and CEO Sascha Goeckel said, “Companies want and need to provide their employees and external partners with a digital workplace that enables them to work flexibly and productively from anywhere. However, all security, compliance and regulatory requirements must be met. Role-based access control alone is no longer sufficient.”
Late last year, High-Tech Gründerfonds led an undisclosed investment into Sepherity, a decentralized identity management company. The capital injection was raised to support the extension of partnerships and boosting product developments.
High-Tech Gründerfonds also backed the six-figure funding round of compliance support service C2S2 in February 2019. The company helps employees to get quick answers to their compliance-related questions.
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