Startup security provider Vera, whose brand of data protection is nothing short of extremely granular, has closed a $17 million round of venture capital funding.
The Series B round, announced Feb. 18, was led by Sutter Hill Ventures, with participation from existing investors Battery Ventures, Clear Venture Partners, and Amplify Partners. As part of the financing, Stefan Dyckerhoff, managing director at Sutter Hill Ventures, will join the Vera board of directors.
To date, Palo Alto, Calif.-based Vera has raised $31 million in total funding. Vera will use the new funding to expand its sales and marketing capabilities and accelerate research and development of its Information Rights Management-as-a-Service platform (IRMaaS).
The 2-year-old startup, whose product went GA (general availability) last April, literally breaks down IT security to its most basic component: the protection of each file individually by putting it into a secure wrapper. No matter where the file goes, it cannot be viewed by a hacker inside any IT system without the key for the file.
Yet, Vera is not exclusively about protecting individual files; the software provides a way for users to protect all their digital content wherever it is moved.
Vera, which means "truth" in Latin and is the core of the term "verify," ostensibly is providing a promising new data- and file-centric security that may be able to succeed where conventional IT network security leaves off, CEO and founder Ajay Arora told eWEEK.
Since last April, Vera has experienced solid growth, adding more than 250,000 users at Fortune 500 companies in the financial services, media and entertainment, manufacturing, and technology sectors.
Vera also has partnered with industry leaders, such as Dropbox, Okta, and Centrify, and announced strategic integrations with Box, VMware, and Microsoft within the last nine months.