Cork based Vaultree raises $3.3m for new datasecurity solution
05 November, 2021
Cork based cybersecurity company, Vaultree, has secured $3.3 million (€2.85m) in investment
Valutree participated in the AxisBIC 2021 Venture Academy where they pitched to an audience of international investors. HBAN investors were part of the final investment. HBAN develops business angel activity and angel syndicates in Ireland and AxisBIC manages HBAN in the South and South-West region of Ireland.
The funding round for the encryption-as-a-service provider was led by Ten Eleven Ventures, a Silicon Valley-based VC, led by Alex Doll, who previously co-founded PGP. Other investors include Enterprise Ireland, US VC, Unpopular Ventures, HBAN and John Stewart, a former chief security and trust officer at Cisco.
Vaultree has been co-founded by a number of software engineers who together have developed end-to-end encryption technology that uses enhanced searchable symmetric encryption (ESSE) and fully homomorphic encryption (FHE) to make it possible to work with fully encrypted cloud-based data without the need for organisations to decrypt the information or surrender security keys.