Cloud Encryption Company Tresorit secures €11.5M

Tresorit, the Cloud Encryption and Collaboration company, which provides end-to-end encrypted file sync & sharing for businesses, announced today that it has closed an €11.5M Series B financing from a consortium led by 3TS Capital Partners, a leading European growth capital investor. 3TS has a long track record of investing in global software businesses originating from Europe. PortfoLion, a Central European venture capital and private equity fund management firm with flagship investments such as Codecool and Starschema contributed substantially to the funding. Several prominent existing investors, such as Andreas Kemi, early investor in LogMeIn and Co-founder of Scala Business Solutions and Márton Anka, Founder of LogMeIn, also participated in the round. Part of the funding was used for acquisition of existing shares. Tresorit is incorporated in Zurich. Andreas Kemi, President of the Board, lives in Switzerland.

Tresorit, a Global Challenger in the rapidly expanding enterprise file sync & sharing market, provides zero-knowledge encryption technology and unique encryption key management and guarantees on-premise equivalent security for businesses while offering consumer-grade simplicity. Tresorit already serves more than 17.000 customers and has grown its recurring revenue base on average by 3x every year in the last three years.

The company now aims to further accelerate its growth by building on the rising demand for secure cloud solutions that protect against data breaches, and will use the new round to broaden its management team, to scale up marketing and sales teams and to work together with new channel partners to further expand its global reach.

(Press release)