California-based data protection startup Cy4Data Labs on Thursday announced raising $10 million in a Series A funding round led by Pelion Venture Partners. This is the first investment round for the company.
Cy4Data Labs has built a solution that can protect data across on-premises, cloud, and SaaS environments, even when in use, by keeping it always encrypted, using NIST-approved standards.
According to the cybersecurity firm, it can secure both structured and unstructured data fields, records, and tables at rest, in transit, and when processed. The company also provides a key management system, as well as real-time threat detection.
By eliminating the need to decrypt data when using it, the startup not only improves customers’ security during operations, but helps them remain compliant and prevent customer impact, brand damage, and financial loss.
Cy4Data Labs says its solution can seamlessly integrate with an organization’s existing infrastructure, without impact to performance or accessibility, and that it can prevent exposure, stop insider threats, and render data breaches ineffective.
The cybersecurity startup, which says it already serves Fortune 100 organizations, will use the fresh infusion of cash to expand its sales and marketing efforts.
“We believe Cy4Data Labs is solving one of the most urgent problems in cybersecurity. Their team has developed a truly novel approach that doesn’t force a trade-off between performance and protection,” Pelion Venture Partners managing partner Blake Modersitzki said.
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