Monday, November 29, 2021

ShardSecure Closes Funding Round Led by EPIC Ventures

ShardSecure®, the world’s most innovative provider of data security and privacy with Microshard™ technology, announced today that they have closed an oversubscribed, pre-Series A funding round of $2.5 M led by EPIC Ventures, with significant participation from existing investors Industrifonden and cybersecurity luminary Tom Noonan.

ShardSecure’s valuation has doubled since the company closed an initial seed round one year ago, and their funding to date now totals $4.5M. “We are pleased to announce this latest funding round led by EPIC Ventures,” said ShardSecure CEO and Co-founder, Bob Lam. “EPIC has a strong track record of identifying technology that provides cutting edge solutions to pressing problems in a range of verticals. Over the past year, rising adoption of ShardSecure’s Microshard technology has proven enterprise customers are hungry for a new approach to providing true defense in depth for data at rest, and we are thrilled to be partnering with EPIC, Industrifonden and Tom Noonan to further revolutionize the data security landscape.”

EPIC Co-founder and Managing Partner, Nick Efstratis added, “EPIC invests in companies with a competitive advantage based in technology, and that have a team of strong founders with the industry expertise and vision to deliver on that innovative edge. ShardSecure’s Microshard technology provides a disruptive and critical new element to the modern data security implementation. We look forward to working with the ShardSecure team to drive positive change in the data security space and to make it safer and easier than ever to embrace public cloud.”

ShardSecure’s production customers already include some of the world’s largest companies in technology and investment management, with deployments in biotech and commercial banking as well. “It’s clear that this is where the industry is headed,” commented Ed Amoroso, CEO of TAG Cyber and former Chief Security Officer at AT&T. “Cloud security controls have typically focused on the risks of unauthorized access through the normal access channels, but little has been done to provide proper controls for back-end access to cloud-hosted data. By eliminating the sensitivity of data through Microsharding, ShardSecure provides critical additional security controls to address these vulnerabilities not covered by legacy solutions.”

Also Read: Cyber safety plans for Back to Office Post-COVID Landscape

Since announcing general availability less than one year ago, ShardSecure has made significant advancements for their Microshard solution, offering support for both structured and unstructured datasets, and performance upgrades including a streamlined deployment process that can be completed in under fifteen minutes. ShardSecure has built out its sales force to include senior enterprise sales coverage in the U.S. Northeast, West and South, and has signed reseller relationships with Red River, DC Consulting and FiveSky. The ShardSecure product offering is now available on AWS Marketplace as well.

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