Vera, a top 10 finalist for the Innovation Sandbox competition at RSA Conference 2016, has closed $17 million in Series B financing, led by Sutter Hill Ventures, with participation from existing investors Battery Ventures, Clear Venture Partners, and Amplify Partners. As part of the financing, Stefan Dyckerhoff, Managing Director at Sutter Hill Ventures will join the Vera board of directors.
To date, the company has raised over $31M in total funding. The injection of new capital will fuel the company’s aggressive growth on its mission to become the trusted standard for securing and sharing all forms of business information.
“Vera is bridging a critical security gap by changing the way enterprises think about securing their data and we’re excited to be part of this opportunity,” said Stefan Dyckerhoff, Managing Director at Sutter Hill Ventures. “We’re turning a pivotal corner where businesses across every industry are re-evaluating their cybersecurity strategies across multiple dimensions in the wake of an increasingly dynamic and damaging threat environment. It’s become very clear that status quo approaches to security have grown tired and ineffective — it’s time for a new guard to emerge. In many ways, Vera is a leader among this new and exciting class of security solution providers. All of us at Sutter Hill Ventures are extremely impressed with how Vera has redefined information security and it’s exciting to see the industry take notice.”
Delivering on its mission, Vera will use the new funding to expand its sales and marketing capabilities and accelerate research and development of its Information Rights Management-as-a-Service platform (IRMaaS). Through its innovative security solution, Vera secures and tracks any type of digital information wherever it travels – across all users, devices, applications, and platforms in real-time.
In today’s world, without borders and full of uncontrollable endpoints, data security can no longer be approached as an add-on or afterthought, it must be woven into the fabric of the enterprise software and hardware stack. With its Series-B secured, Vera will continue on its path to become the trusted security platform and standard for all businesses to secure and share their critical business information.
“We’re thrilled to have Sutter Hill Ventures join the Vera family, especially given their deep expertise in enterprise security and software,” said Ajay Arora, CEO of Vera. “We’re entering the next major epoch of cybersecurity, and we’ve seen customers, partners, and forward-thinking investors clearly recognize that fact. We’re excited to continue our trajectory of hyper-growth into 2016 and beyond, and with investors like Sutter Hill Ventures joining the mix of our already top-tier backers, we’re extremely well positioned to accelerate along that path.”
Since the company’s public launch in April 2015, the company has added more than a quarter million users at Fortune 500 companies in the financial services, media and entertainment, manufacturing, and technology sectors. Vera has partnered with Dropbox, Okta, and Centrify, and announced strategic integrations with Box, VMware, and Microsoft within the last nine months.