Data protection provider and inventor of the open TDF standard, Virtru announced that it has raised $60 million in growth financing. The round was co-led by existing investor ICONIQ Growth and new investor Foundry Capital. Tiger Global, MC2, Bessemer Venture Partners, and New Enterprise Associates also participated in the round.
Zero Trust model
As a result of the growth financing, Michael Chertoff, former Secretary of the Department of Homeland Security and co-founder and executive chairman of MC2, and Jon Ein, CEO of Foundry Capital, are joining Virtru’s board of directors.
According to the announcement, the funding will accelerate the delivery of new products across the company’s data protection portfolio and continue to scale with new hirings across sales and marketing, research and development, and customer success. Matt Howard, former CMO of Sonatype, has joined the company as CMO to support these plans.
Currently, more than 7,000 organizations use Virtru to protect and encrypt their sensitive data while it flows on email and file-sharing platforms, SaaS applications, and cloud environments. Virtru’s solutions are built on top of the Trusted Data Format (TDF), a popular data control standard.
John Ackerly, CEO of Virtru said,
« An effective Zero Trust architecture requires cybersecurity professionals to embrace a fundamentally different mindset, one that’s much less about defending porous perimeters and much more about protecting sensitive data. Today, our innovative products enable businesses to easily respect and protect the flow of sensitive data. This latest round of investment is not only a testament to our progress thus far, but also reflects the massive opportunity to establish TDF as the open standard for Zero Trust data protection. »