October 19, 2023 at 08:42AM
Australian cybersecurity startup, CipherStash, has raised $3 million in a seed funding round led by Skip Capital. The company uses queryable encryption technology to protect data, offering tighter access controls and tracking capabilities. CipherStash’s solution integrates with various programming languages and databases. The funding will support the expansion of their digital defense offerings to combat evolving cybercriminal tactics.
Key Takeaways from Meeting Notes:
– Australian cybersecurity startup CipherStash has successfully raised $3 million in seed funding, bringing their total funding to $6 million.
– The funding round was led by Skip Capital, with participation from SixThirty Ventures.
– CipherStash, founded in 2022 and based in Sydney, utilizes queryable encryption technology to keep data encrypted at all times, even during usage. This technology provides tighter access controls and logs every data access for identification of unwanted attempts.
– The company’s solution aims to safeguard data and prevent data breaches, identity theft, and cyberattacks.
– CipherStash’s offering can be seamlessly integrated with existing databases and data lakes and warehouses through a drop-in driver replacement. They also provide an SDK for more specialized use cases and offer open-source encryption libraries.
– The investment will enable CipherStash to enhance its digital defense offerings to counter the increasingly sophisticated tactics used by cybercriminals.