NEW YORK, Nov. 17, 2020 /PRNewswire/ -- Unbound Tech, the global leader in cryptographic key management and protection has raised $20M in Series B funding. Unbound's next-gen key orchestration platform provides the cryptographic infrastructure to enable enterprises worldwide to easily secure and manage all their information and digital assets. The latest funding round is led by Evolution Equity Partners, joining existing investors Innovation Endeavors, Goldman Sachs, Citi and BlueRed Partners, to help further fuel its global growth.
Following the funding round, Unbound will focus on growing its business in the Enterprise sector. Enterprises worldwide can benefit from the agility and efficiency of Unbound's software-based cloud-agnostic solution. To support this mission, the company plans to increase its headcount an additional 30% by the end of Q1 2021.
"The completion of this funding round marks a significant milestone as we enter our next growth phase," says Prof. Yehuda Lindell, co-founder and CEO, Unbound Tech. "This funding will propel us on our mission to continue evolving cryptographic key management and protection solutions for enterprises around the world. We are delighted to welcome J.R. Smith to the board and look forward to having him guide us on our journey."
Evolution Equity Partners is an international venture capital investor managed by investment and technology entrepreneurs that helps develop market leading cyber-security and enterprise software companies. As part of the funding deal, J.R. Smith, a partner at Evolution Equity Partners, will join Unbound's board. Prior to joining Evolution, Smith was Chief Executive Officer of AVG Technologies where he was responsible for strategy and operations and led the company to a New York Stock Exchange IPO in 2012.
Smith added: "Unbound Tech has been a great success story so far, pioneering invaluable security and privacy solutions through innovative cryptographic methods. We are excited to help the company continue to scale globally. The demand for easy-to-manage security solutions is constantly growing and Unbound is well poised to become a global leader in this space."
Unbound was founded by world-renowned cryptographers Professor Yehuda Lindell and Professor Nigel Smart, as well as Guy Peer who is the force behind Unbound's research and development team. Together, they pioneered the breakthrough technology that safeguards cryptographic keys for many of the world's largest financial institutions today. Data protection, privacy, authentication and trust are all based on cryptographic keys. Unbound's advanced technology ensures keys are never exposed throughout their lifecycle, in any environment such as public and private cloud, virtual environments, containers and on-premise. By providing software-based applications that use sophisticated applications of Secure Multi-Party Computation (MPC), Unbound provides an easy and cost-effective mathematical guarantee of security.
This latest investment brings the total amount of funding raised by Unbound to $40M.
In a world moving towards everything encrypted, signed, and authenticated, secure and operationally efficient cryptographic infrastructure is an absolute must for enterprises. Unbound Tech's solutions leverage the latest in MPC technology and have been selected to secure many of the world's largest banks and Fortune 500 companies. With a headquarters in New York and an international headquarters in Israel, Unbound Tech and its NextGen Key Orchestration Platform provides the cryptographic infrastructure to enable enterprises worldwide to easily secure and manage all their information and digital assets. Learn more at www.unboundtech.com and follow us on LinkedIn, Twitter, and Facebook.
About Evolution Equity Partners
Evolution Equity Partners, based in Palo Alto, New York City and Zurich, Switzerland, invests in fast growing technology companies in North America and Europe helping exceptional entrepreneurs develop market leading companies. The firm has a focus on Cybersecurity and Enterprise Software and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world.