OAKLAND, Calif., March 20, 2019 /PRNewswire/ -- CryptoMove, the only cloud-native key vault and secrets management platform to provide moving target defense for microservices and multi-cloud, announces that Michael Roytman has become the newest member of its Board of Directors, effective March 2019. Roytman is also Social Capital's newest Board Partner Program member, helping portfolio companies like CryptoMove achieve breakout growth.
Social Capital led CryptoMove's oversubscribed $6M equity financing in late 2018. Since then, CryptoMove has had breakout growth, landing and expanding with customers including the Department of Homeland Security via its Silicon Valley Innovation Program and other federal agencies. CryptoMove's breakout traction is driven by Tholos, a key vault and secrets management platform that leverages moving target defense to protect cloud and container secrets. Since launching Tholos to a private beta at AWS re:Invent in late 2018, where CryptoMove was selected as a top 10 startup, the beta has grown monthly by double digit percentages to developers from hundreds of private sector organizations, including major technology companies and companies across the Fortune 500, including media, financial, health care, insurance, industrial, retail, and other industries. Developers, DevOps and security engineers are leveraging the platform in interesting and innovative ways to secure secrets management at scale: containers and kubernetes, cloud infrastructure, API keys, robotic process automation file protection, edge device secure storage, sensors, live-streaming video, drone swarms and connected devices. CryptoMove is also currently working alongside the city of San Leandro in the Bay Area on applying their platform to one of the largest smart lights deployments in the country, via NIST's Global Smart Cities Challenge. The CryptoMove team has executed with lean resources, generating remarkable early revenue and adoption.
"With modern DevOps workflows for cloud and container/services based infrastructure, secrets management becomes a really hard problem at scale. CryptoMove's Tholos key vault is bringing a highly differentiated approach to this area that adds value to both developer and security teams," states Tom Pageler, CSO at BitGo and former CRO & CSO Neustar & DocuSign.
Social Capital's Board Partner Program brings best-in-class professionals to be board partners for portfolio companies that have significant potential and where Social Capital can add unique value. In that spirit and with its remarkable traction, CryptoMove is announcing that Social Capital's newest Board Partner Program member, Michael Roytman, is joining CryptoMove's founders on the company's Board of Directors. Roytman will bring his expertise in cybersecurity, SaaS, and enterprise software as an executive operator, investor, and board member to build on their momentum.
"I am extremely proud of what our team at CryptoMove has accomplished over the past two years and incredibly excited about the opportunities that lie ahead for us," said CryptoMove CEO, Mike Burshteyn. "As a fellow entrepreneur, Michael is a seasoned leader with the vision, expertise and innovative mind necessary to ensure CryptoMove is successful. His proven track record for driving operational and product excellence and deep desire to help our clients and employees achieve their full potential will be instrumental throughout the future of our growing company. As one of CryptoMove's earliest angel investors, Roytman saw the vision and promise of moving target defense as a highly disruptive innovation to traditional data at rest and key management incumbents, and has been with us every step of the way as CryptoMove raised its first institutional capital, generated its first revenue, hired its first employees, and launched its first product."
Michael Roytman is the Chief Data Scientist at Kenna Security, and has spoken at RSA, BlackHat, SOURCE, BSides, Metricon and SIRAcon. His work focuses on cybersecurity data science and Bayesian algorithms, and he serves on the board of the Society of Information Risk Analysts. He is also a technical advisor in the humanitarian space, having worked with Doctors Without Borders, The World Health Organization, and the UN. He is the cofounder and executive chair of the board of Dharma Platform, a TPG-funded startup for which Roytman landed on the 2017 Forbes 30 under 30 list. He currently serves on Forbes Technology Council. He holds an M.S. in Operations Research from Georgia Tech, and a B.S. in Industrial Engineering from the University of Illinois Urbana Champaign. He has recently turned his home roasting operation into a Chicago south side cafe, Sputnik Coffee.
"I'm honored to join the Board of Directors for CryptoMove, where I will have the opportunity to work with the founding team, Michael and Boris, to guide the company into this next exciting phase of its moving target data protection key vault and secrets management platform from general product release to customer-centric innovation. In today's age of cloud and DevOps, giving enterprises the tools they need to get ahead of cyber attackers by protecting their crown jewels—API keys, configs and other app secrets—is immeasurable value we can provide. Together with our incredibly talented team and cutting-edge technology, we will continue to build on their foundation of success by working with other cybersecurity providers to keep the digital world safe. I'm excited to be a member of the Social Capital Board Partner Program and help build on a phenomenal track record of backing breakout early stage SaaS, enterprise, and security companies such as Slack, Yammer, Box, Netskope, and now CryptoMove."
As moving target defense technology continues to explode in its applicability, CryptoMove will continue diving into the challenges organizations face with API key and secrets management, iterating on the platform and extending the beta program and use cases. Additional hires in Product, Engineering and Marketing will help bring CryptoMove to market later this year through a general release. As the product, team and user base grows, CryptoMove will continue to focus on reimagining data protection and key management with moving target defense.
About CryptoMove CryptoMove provides moving target data protection solutions for microservices and multi-cloud. Our cloud-native Tholos key vault platform becomes more robust with scale to simplify secrets management for modern DevOps workflows. As the world's first data protection platform to utilize globally patented moving target defense (MTD) principles for entropy and randomness, our B2B clients can manage their secrets seamlessly, integrate with their core business systems programmatically and achieve unparalleled data security to avoid detection by attackers. CryptoMove use cases have been developed by leading institutions, including the Department of Homeland Security (DHS) via its Silicon Valley Innovation Program, the Air Force via AFWERX, and the National Institute of Standards and Technology (NIST) via its Global Smart Cities Challenge. Participants of CryptoMove's Early Access Program include Fortune 500 financial services, insurance, technology, healthcare, entertainment, and other organizations. In 2018, CryptoMove was selected by Amazon as one of the top ten startups showcased during AWS re:Invent. CryptoMove is backed by top-tier VCs including Social Capital, Tim Draper's Draper Associates fund, Pathbreaker Ventures, Red Dog Capital, and angel investors including Google's CISO, founders, security leaders, and early investors from Palantir, FireEye, Palo Alto Networks, Facebook, Cisco, and others. CryptoMove is headquartered in Oakland, California. For more information, visithttps://www.cryptomove.com/.