CyberTech firm Vaultree has secured $12.8m in a Series A growth investment round co-led by Molten Ventures and Ten Eleven Ventures.
Also taking part in the round was Sentinel One, Elkstone Partners, Cyber Club London, CircleRock Capital and a number of cyber experts.
Vaultree claims its end-to-end encryption makes it possible to work with fully encrypted data without the need to decrypt the information or surrender security keys. The solution enables Searchable and Fully Homomorphic Encryption at close to plaintext speed – a major leap forward in the secure, scalable processing of data.
Unlike common data-at-rest or data-in-transit security controls, Vaultree said it has developed fully functional data-in-use encryption technology to protect data all the time — whether in use, at rest or in transit — with no noticeable decline in performance.
Along with the expansion of its team and securing research and patent registrations, Vaultree claims the funds will be allocated to including faster feature releases, added functionalities, bolstered security, service readiness and tech support for a growing pool of dedicated users.
Vaultree CEO and co-founder Ryan Lasmaili said, “Our Series A is a testament to our team’s hard work, advancing our cutting-edge breakthrough: the world’s first fully functional searchable encryption and fully homomorphic encryption.
“Vaultree’s Fully Functional Data-in-Use Encryption technologies empower enterprises with a user-friendly, simple-to-integrate and fully scalable solution without all the hurdles normally associated with FHE and SE.
“Our goal is to make this technology the new benchmark by which all data security is measured, bringing a new level of protection to enterprises worldwide, by rendering breaches and leaks powerless and irrelevant. This funding brings us closer to disarming data breaches and cyberattacks on a global scale; realizing our vision of an encrypted tomorrow for all.”
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