Data security startup Qohash has secured CAD 8m ($6.2m) in its Series A funding round to help it expand across North America.
The investment round was led by FINTOP Capital. As part of the deal, FINTOP Capital general partner John Philpott will join the Qohash board of directors, alongside Coveo president and CTO Laurent Simoneau.
With the burst of equity, Qohash is hoping to expand across North America and accelerate its commercialisation.
The Covid-19 pandemic forced masses of people to work from home. A report from Owl Labs claimed that 52% of employees now work remotely at least once per week.
With more people working from their personal, unsecured computers, there is rising threats from cyberattacks. ISACA predicts it could cause a financial fallout of around $6bn.
FINTOP Capital general partner John Philpott said, “We are investing capital into a company with a laser focus and commitment to deliver data security solutions that are highly accurate and easy to operationalize.
“It’s our view that the discovery, control, and risk management of sensitive data is a top priority for companies continuing the accelerated move to remote work and zero trust distributed architectures.”
Founded in 2018, Qohash has developed a data security platform that enables companies to monitor sensitive data flow between employees and their personal computes and accounts to detect high-risk situations in real-time.
It technology enables teams to secure data with improved deployment, cost and performance.
Qohash CEO Jean Le Bouthillier said, “Customers want data protection that can evolve to meet new challenges.
“Qohash’s solutions are easy to deploy and cover on-premise and cloud-based sources. Working with security-conscious, industry-leading firms, Qohash has helped them achieve their goals faster and with greater flexibility.”
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