Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

Qohash, a leader in data security software, today announced it has secured $17.4m in Series B funding.

The round was led by Fonds de solidarité FTQ, alongside contributions from Export Development Canada (EDC) and returning investor Desjardins Capital.

This latest financial injection will help Qohash further develop its innovative Qostodian platform. The platform utilises artificial intelligence to manage and secure high-risk data across various sectors including financial services, the public sector, and high technology industries.

Qohash’s Qostodian is designed to be quickly deployable, offering immediate visibility and management over the riskiest data sources within an organisation. The AI-driven features are tailored to meet unique business rules and risk landscapes, automating responses and providing actionable insights. This not only simplifies security operations but also ensures a targeted approach to data security, minimising reliance on extensive manpower and maximising efficiency.

The new funds will be directed towards accelerating the development of the Qostodian platform and expanding Qohash’s market reach. This strategic expansion is aimed at addressing the pressing security needs of industries where the protection of sensitive data is paramount.

Dany Pelletier, Executive Vice President of Private Equity and Impact Investing at Fonds de solidarité FTQ, said, “In today’s fast-paced digital market, Qohash stands out by quickly delivering cutting-edge technologies, such as generative AI, to ensure the cybersecurity of companies here and abroad. The Fonds is proud to invest in a company that rapidly adapts to new technologies and develops its expertise, benefiting the data security of businesses and the public.”

Nathalie Bernard, Chief Operating Officer at Desjardins Capital, said, “It is essential to equip and support organizations with cutting-edge technologies to secure their sensitive data. That’s why Desjardins Capital is proud to reinvest in Qohash to expand its innovative cybersecurity solutions to medium and large international companies.”

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