Data security startup Sotero closes $8m seed extension funding round to accelerate growth
Sotero, the leader in revolutionary data security, announced a $8 million extension of their seed round, bringing the round to a total of $13 million. Israel's OurCrowd led the round with participation from existing investors, Gutbrain Ventures, PBJ Capital, and Boston Seed Capital.
Sotero is reshaping the data security market with the industry's first data-focused security platform. Sotero's data-centered solution consolidates all data instances, applications, and security point solutions into one easy-to-manage platform that provides complete visibility, governance, and auditability of all data assets.
Purandar Das, Co-founder, and CEO, Sotero: "We are grateful for our existing investors who have been very supportive of our organization and vision. We extend that gratitude to our new investor OurCrowd that sees our product's value. Today, with Sotero, customers are securing structured and semi-structured data. With this funding round, we will invest resources into technology development to expand that security to unstructured data, which more than 90% of the market is struggling to protect today."
OurCrowd is a global venture investing platform that empowers institutions and individuals to invest and engage in emerging companies. With access to OurCrowd's support, including mentorship, industry advisors, and an extensive network of multinational partnerships, Sotero will accelerate its significant growth in the U.S. data security market, further expanding its technology to secure all data anytime, anywhere. The majority of Sotero's current customers utilize this cutting-edge technology for cloud data security, compliance requirements, or securely sharing data for collaboration.
Jon Medved, CEO, OurCrowd: "Sotero brings together for the first time full and easy access to enterprise data, together with unparalleled security controls. These seemingly contradictory demands become smoothly integrated into the Sotero data security fabric. We are proud to lead this funding round for this extraordinary company."