Vera Reels in Strategic Investment; Adds Former Veritas CEO & Founder to Board

VeraSecurity_homepage_May2016 What a week for Vera! Within hours of the data security startup’s Finovate debut, the company announced that it had landed a strategic investment from Capital One Growth Ventures. The investment adds to Vera Security’s oversubscribed Series B round, taking the company’s total funding to $35 million.

The Series B was led by Sutter Hill Ventures, with existing investors Amplify Partners and Battery Ventures also participating. Vera_MarkLeslie

The funding news comes with word that former Veritas Software founder, chairman, and CEO, Mark Leslie (pictured right) will join Vera’s board of directors. A 30-year veteran of the Silicon Valley technology scene who served as president and CEO of Synapse Computer and Rugged Digital Systems in the 1980s, Leslie called Vera a leader among a “new class of security startups working  globally to secure data in a completely new way.”

Speaking for Capital One Growth Ventures, Adam Boutin praised Vera’s “elegant solution for securing data through its entire lifecycle” that avoids compromising access, control, or transparency. “We are thrilled to invest in Vera and have been impressed with their team and their ability to build a solution that balances complex functionality with ease-of-use,” Boutin said.

With more than a quarter-of-a-million users at Fortune 500 companies in verticals ranging from finance to manufacturing to entertainment, Vera specializes in providing data protection and encryption that both tracks and secures digital content across apps, devices, users, and platforms in real-time. Emerging from stealth just over a year ago, Vera was a finalist in the RSA Conference Innovation Sandbox Contest in February, the same month the company was named one of the 20 coolest cloud security vendors of the 2016 Cloud 100 by CRN. Also in February, Vera teamed up with Richard Fleischman and Associates (RFA) to provide U.S. hedge funds, private equity firms, and asset managers with its advanced data security technology. Vera unveiled its cloud-based IRM-as-a-Service (Information Rights Management-as-a-Service) platform in March, enabling businesses to “protect and manage access to any data generated by custom-built business applications.”

Led by CEO Ajay Arora, Vera demonstrated its data security technology at FinovateSpring 2016. The video of the company’s demo will be available soon.

FinovateSpring Sneak Peek: Vera

Vera_homepage_April2016

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

Vera secures enterprise data wherever it goes, and allows IT to instantly revoke access in unmanaged domains – no agent required.

Features:

  • Secures any file type, ensuring only authorized parties can access sensitive financial information
  • Works no matter where/how the file is stored, or who has it
  • Not tied to any specific technology

Why it’s great

Vera works just as effectively with outside collaborators (clients, auditors, lawyers, banks) as internal employees, without requiring recipients to download or install special programs.

Vera_AjayAroraPresenters

Ajay Arora, Co-founder and CEO

As CEO and co-founder of Vera, Arora is a serial entrepreneur with 20+ years of experience in security and enterprise software.
LinkedIn

 

Vera_GrantShirkGrant Shirk, Senior Director of Product Marketing

As senior director of product marketing at Vera, Shirk is focused on helping global businesses secure and share their critical business information.
LinkedIn

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Around the web

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.