Tresorit raised $3m in Series A funding

The funds will be used to drive development of Tresorit’s patent-pending cryptographic encryption technology and expand the company’s overall reach in the U.S and European markets. The round was led by Tresorit’s current investors, including Euroventures, as well as entrepreneurs Andreas Kemi and Marton Szoke.

“The issue with most popular cloud storage services is that they do not provide the end-to-end encryption needed to truly guarantee personal as well as enterprise-grade security,” said Istvan Lam, founder and CEO, Tresorit. “In a post-Snowden world, we’re seeing an intense interest in the enterprise market for a solution with a higher level of hacker- and spy-proof security. While we’re a huge advocate of the usability pioneered by popular options, we firmly believe that there’s a systemic problem with how data and encryption keys are handled in today’s enterprise cloud solutions. Until today, businesses have had to settle for a trade-off if they wanted to take advantage of the benefits of cloud storage. With our technology there’s no need to make that compromise.”

Founded in 2011, Tresorit offers businesses an end-to-end encrypted cloud collaboration service that guarantees true privacy to its users. Deploying a patent-pending crypto protocol, Tresorit makes sharing and collaboration possible without sacrificing security and compliance. In order to prove its unmatched level of security, starting in April 2013 Tresorit offered a $25,000 bounty to any individual capable of breaking into its service. To date, more than 1,000 security professionals and experts from institutions including MIT, Stanford and Harvard have tried unsuccessfully to break into Tresorit’s sophisticated encryption technology – rendering it ‘unhackable.’

“With cybersecurity and privacy risks at an all time high, demand for cloud storage services that aren’t vulnerable to hackers or government agencies has reached a fever pitch,” said Marton Szoke, a serial entrepreneur and former Yahoo executive.
“For enterprise organizations and industries with critical security needs – for example, healthcare or legal services organizations – security can’t be a ‘nice to have,’ it has to be a guarantee. Tresorit has the unique encryption technology to not only make this a reality for businesses, but to make the experience of collaboration intuitive and user-friendly in the enterprise.”