Security Experts:

Data Protection Firm Vera Secures $17 Million

Vera, a Palo Alto, Calif.-based data protection startup, has closed a $17 million Series B funding round led by Sutter Hill Ventures, bringing the total amount raised by the company to more than $31 million.

The company explains that its Information Rights Management-as-a-Service platform (IRMaaS) can encrypt, secure and track any type of digital information wherever it travels – across all users, devices, applications, and platforms in real-time.

Using Vera’s technology, customers can set up user or company managed polices to protect data, and track, revoke, watermark, or block copying of data.

According to the company, the new funding will be used to expand its sales and marketing capabilities and accelerate research and product development.

Vera LogoSince launching in April 2015, the company says it has brought on customers that have resulted in more than a quarter million users being protected by its technology.

The company has also established partnerships with other technology firms, such as Dropbox, Okta, and Centrify, and has integrations with Box, VMware, and Microsoft.

Existing investors Battery Ventures, Clear Venture Partners, and Amplify Partners also participated in the Series B round.

As part of the financing, Stefan Dyckerhoff, Managing Director at Sutter Hill Ventures will join the Vera board of directors.

"Vera is bridging a critical security gap by changing the way enterprises think about securing their data and we’re excited to be part of this opportunity,” Dyckerhoff said in a statement.

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For more than 10 years, Mike Lennon has been closely monitoring and analyzing trends in the enterprise IT security space and the threat landscape. In his role at SecurityWeek he oversees the editorial direction of the publication and manages several leading security conferences.