California startup Baffle receives $20 million through the Series B funding round, reported Tech Crunch. The company will be using the capital to further develop its data encryption service intended to prevent data breaches.
The startup was established as a way to help companies protect their assets in light of the overwhelming cyber threats that often happen in public and private clouds. The company’s solution is to encrypt the data itself, protecting it during processing, while in transit, and after it reached its destination.
To do this, Baffle uses a security mesh while databases and applications use the data. This measure prevents the identification of sensitive data during processing. The company claims that this security mesh does not affect performance.
Baffle CEO and co-founder Ameesh Divatia explained, “Securing IT infrastructure – networks, devices, databases, lakes, and warehouse – is never complete. Constant change makes it impossible to adopt a zero trust security posture without protecting the data itself.”
In view of escalating hacker activities, especially during the past year, Baffle’s solution remains to be relevant, even with the existence of current encryption services. According to the company, a security breach may occur, but the data will not provide any value to hackers.
“Most encryption is misapplied, and quite frankly, doesn’t do anything to protect your data,” said the company, “The protection measures that are most commonly used do nothing to protect you against modern hacks and breaches.”
The solution can be implemented on various cloud platforms including Amazon Web Services, Google Cloud, and Microsoft Azure. As of this writing, Baffle is protecting over 100 billion data from various services including finance, healthcare, retail, government, and IoT.
Baffle received additional funding after landing $6 million in Series A. The investment round was led by new player Celesta Capital and participated by National Grid Partners, Lytical Ventures, and Nepenthe Capital.
Existing investors who were present in the round include True Ventures, Greenspring Associates, Clearvision Ventures, Engineering Capital, and Triphammer Ventures, according to a press release published on BusinessWire.
“With this investment, we can meet market demand for data-centric cloud data protection that enables responsible digital information sharing and breaks the cycle of continuous data and privacy breaches,” said Divatia.
The company has been successfully operating over the past year as it garnered a three-times increase in revenues. The additional revenue will be used to expand and grow the company to meet demands.
