From the day ShardSecure was started by our Co-Founder Lou Steinberg (CTO role at TD Ameritrade) to solve a customer problem, we’ve believed that every company should be able to protect their sensitive data while maintaining control of it in the cloud.
Now, having just closed an oversubscribed $11M Series A funding round (read the press release), the ShardSecure team has accomplished a major milestone to fulfill our mission on a global scale. We’ve been funded by highly value-added VCs, including new investors Steve Fredrick of Grotech Ventures, Ron Gula of Gula Tech Adventures, and global cyber consulting and advisory powerhouse KPMG as a strategic investor. Our funding also included significant participation from existing investors Tom Noonan, EPIC Ventures, and Industrifonden.
Steve is an experienced cyber investor, while Ron and Tom have built multi-billion-dollar cyber companies before they became VCs — and I am very excited about the support and guidance they are providing to our team.
On a practical level, we’ll use the funding to expand our sales and marketing operations in Europe and North America. We’ll also spend time developing revenue-generating strategic partnerships with major tech companies, including cloud providers, data and storage management companies, and our new strategic partner KPMG.
Crucially, closing this funding round also means that we can further improve user experience and grow our cloud data security platform — including continued product development and third-party product integrations. We’ve planned exciting new features that we look forward to sharing in the future.
We’ve come a long way since we founded the company in January 2019. With our Series A round, we have now raised $16M in total funding. Our valuation has continued to double every year, and we’ve developed a truly disruptive approach to improving cloud data security and mitigating the effect of cyberattacks like ransomware. Last week, we were also named a Top 5 finalist in the Best Emerging Technology category of the 2022 SC Awards, where we were chosen from among hundreds of entries across the information security industry.
I want to congratulate and thank my co-founders Jesper Tohmo, Christer Roslund, and Lou Steinberg — plus early employees Anthony Whitehead and Zack Link — for their significant contributions to our journey. We have a lean but highly experienced team, and I am humbled by the high caliber of talent working at ShardSecure.
As one of the world’s top cyber consulting and advisory firms, KPMG offers a tremendous knowledge base and a great track record in the data security space. We’re looking forward to partnering with them to help more companies accelerate their data migration to the cloud.
As our strategic investor and go-to-market partner, KPMG will also help us make headway into Global 1000 enterprises, and they’ll lend even more credibility to the ShardSecure solution.
A strong Series A round in a tough funding environment is one milestone among many, and ShardSecure’s journey to success has only just begun. We’re in the first inning of the lengthy, complicated game that is migrating sensitive data to the public cloud, and we still have a long way to go.
That said, we’re passionate about our mission to keep sensitive data in the hands of its owners, and we’re thrilled that this Series A funding round will allow us to continue pursuing this mission. We’re grateful for the support of all our investors and our entire team, and we’re excited to see what the future holds for us.