Tresorit raises $3M in series A round
It is often said we live in a permissive era, where sharing information and resources on the web is part of our day-to-day lives. Thus, the key words for this generation are privacy, security and trust. Hungarian cloud sharing and storage startup Tresorit seemed to know exactly how to encompass the key words with encryption technology. Less than a month after officially leaving the beta version, the startup closed its second round of funding with previous backers and bagged extra 3 million dollars.
We caught up with CEO István Lám who confirmed the investment and said that the seed round was led by “Euroventures as VC and few private entrepreneurs such as Andreas Kemi and Marton Szoke”.
“The investment is planned to be used in further development and marketing” as well as increasing the team behind Tresorit. “Our team is currently made up of 40 individuals and we are growing rapidly,” Lám said. The next milestone on the list for the Hungarian startup is to educate the people and make them understand that “client side encryption is available and you don’t need to hand over your data to other companies such as Dropbox or Google Drive. Most of the clients of those companies are not aware of the fact that Dropbox or Google, or Box can look at their data” meaning there is no real confidentiality or safety of documents.
Tresorit claims to differentiate itself from the other players on the market through its multiple layers of security that makes data difficult to be compromised. Better said, impossible, as none of the world’s tech ninjas and hacking minds were able to break the proprietary code. The team started with a 10.000 dollars reward for anyone who break their security, and “we increased the bounty to 50.000 and more than 250 university teams tried to hack it, including MIT, Stanford, Harvard or Caltech. Nobody succeeded.”
While other cloud sharing and storage players were affected by the Heartbleed security bug and had to patch their major services, the bug was not able to penetrate Tresorit’s secure storage proving its immunity. Based on a patented cryptographic research and high legal protection, based in Switzerland, the information uploaded remains unscathed and untouched.