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New York, NY

ShardSecure™ announced today that Industrifonden has participated in the company’s oversubscribed seed round, joining lead investor SineWave Ventures, Tom Noonan, 500 Startups and others in the investment round originally announced late last year.

Stockholm-based Industrifonden is one of the largest and oldest early-stage venture capital firms in Northern Europe, with $700M under management.

ShardSecure is thrilled to welcome Industrifonden as a significant investor in our growth journey. Industrifonden has a long and successful track record of backing early-stage startups. We look forward to working with Hadar and his team as we bring our data protection technology to market this year.

CEO & Co-founder, Bob Lam

Industrifonden Investment Director, Hadar Cars, also shared his enthusiasm about the announcement, adding, “Industrifonden is pleased to be adding ShardSecure to our portfolio as we see them filling an urgent need in the cloud data protection market. The prevalence of security incidents caused by cloud misconfigurations, and the resulting financial and reputational damages, present a significant hurdle for organizations looking to migrate more of their workloads to the cloud. ShardSecure’s Microshard technology tackles the problem at the source by reducing the sensitivity of data, providing a critical security solution that will help organizations accelerate cloud adoption with reduced risk and compliance burden.”

The oversubscribed funding round positions ShardSecure well for growth. Funds will be used to build an experienced sales and marketing team to bring the Microshard data protection technology to market this year as well as to continue strengthening an already robust development team. Learn more about ShardSecure at www.shardsecure.com.

 

About Industrifonden

Industrifonden is a Nordic venture capital investor based in Stockholm. Industrifonden invests in emerging science and technology ventures that have a meaningful impact on society. Their portfolio includes companies like Funnel, ScandiNova and Nuvoair. For more information, visit www.industrifonden.com.

About ShardSecure

Headquartered in New York City, ShardSecure® is the world’s most innovative data security company, disrupting the data privacy and security market with Microshard™ technology – the only solution capable of breaking data into single-digit bytes and distributing across cloud locations without sacrificing performance.

Microsharding provides zero data sensitivity for cloud-stored or on-prem data, and can be used with or without encryption to provide true defense in depth. Led by veteran cybersecurity entrepreneurs and investors, ShardSecure works with some of the world’s most successful companies in healthcare, financial services and technology to ensure ultimate data privacy and compliance, while making data migration to the cloud more secure and faster than ever.

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media@shardsecure.com