Vaultize Raises Venture Capital Funding from Tata Capital Innovations Fund
PUNE, India and MOUNTAIN VIEW, California, July 10, 2013 /PRNewswire/ --
Enterprise file sharing and sync (EFSS) and mobility vendor Vaultize (http://www.vaultize.com) today announced that Tata Capital Innovations Fund has invested in the company. The funding will help the company scale up its go-to-market strategy, including expansion across the world, with immediate plans to establish operations in the US and Europe in conjunction with channel partners. The company will also use the funds towards building its best of breed sales, marketing and engineering teams, and to enhance its global partner program.
As enterprises across the world are impacted by data loss, security and compliance risks, because of proliferation of consumer file sharing and Bring-Your-Own-Device (BYOD) trends, they look for secure and enterprise-controlled solutions. Vaultize has been generating significant interest among medium and large enterprises across verticals in this space. Vaultize provides a secure enterprise-grade platform for file sharing, endpoint protection through backup and encryption, Google Apps backup and enterprise mobility.
"Data security and privacy are currently the key concerns of any organization's IT team. Use of consumer cloud services, workforce mobility and the trend of BYOD are likely to increase the concerns even further. Vaultize comes at the right time to address these pain points. Led by experienced professionals and domain experts, Vaultize is poised to capture a significant share of the market," said Mohan Harshey, Partner - Private Equity, Tata Capital.
"Funding from Tata Capital Innovations Fund is a testimony of the tremendous market opportunity, our unique market position and the successes we have been having in this market. We are honored to welcome Mr. Mohan Harshey and Mr. Vineet Chadha to our board," Anand Kekre, CEO and Co-founder of Vaultize said. "Vaultize has received significant market traction attributed to its focus on security and control requirements of enterprise IT. Bolstered by the funding, we continue to expand our existing teams, our product portfolio and begin to build a strong presence in the US and Europe through partner network."
About Tata Capital Innovations Fund
Tata Capital Innovations Fund is a venture capital fund managed by Tata Capital that focuses predominantly on technology led innovations which represent breakthrough, fundamental or incremental change in technology or process. It is a sector agnostic fund and can invest across all stages viz. start-up, early and growth.
Vaultize is a privately held company headquartered in Pune, India. Cloud-based file sharing and sync services have revolutionized the way people access and share information. People are freely using these services even for their official work, and hence sensitive corporate data is now residing in third-party clouds without the knowledge and control of IT - posing significant data loss, security and compliance risks. Vaultize comes to your rescue by giving a unified platform for file sharing, sync, endpoint backup, endpoint encryption, anywhere/anytime access to data on corporate file servers and enterprise mobility- everything with complete enterprise control and visibility.
Through Vaultize's endpoint encryption, sensitive corporate information remains encrypted on endpoints ensuring protection against unauthorized access and potential data leakage from lost or stolen device. In addition to on-disk protection, Vaultize's patent pending encryption technology used in file sharing and backup ensures that the data is encrypted or decrypted only on endpoints - guaranteeing end-to-end protection.
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