Seclore is shifting its focus to lead in enterprise data security

Seclore is shifting its focus to lead in enterprise data security ...

Seclore, a data-centric security platform (DCSP) for companies, has announced a $27 million series C financing. The company said that the capital will be used to accelerate its quest to become the platform of choice for enterprise data protection initiatives. Its DCSP offering will allow businesses to shift their security posture from infrastructure to data. This approach allows customers to focus on securing their crucial data assets rather than chasing data to secure it as it migrates from enterprise systems throughout the cloud and to third parties.

The announcement comes after a time when data breaches are becoming more widespread as the workplace environment has rapidly become distant due to the epidemic.

One quarter of data breaches are related to remote employment, with each incidence costing organizations an average of $4 million. Throughout the last few decades, security has just reached the next level, and this is where Seclore comes into play. The platform can be used to develop ideal data-centric security solutions with existing enterprise systems to overcome the inherent limitations of different data protection point solutions.

Data security in the cloud

Seclore discloses that its DCSP also addresses data privacy concerns, especially if enterprises are attempting to comply with international privacy standards such as GDPR and CCPA, because noncompliance may result in fines of up to $7,500 per violation or higher. Seclore''s DCSP also includes cloud data security, which allows customers to safeguard data as it travels through various public cloud systems without solely relying on the security posture.

According to a Forrester survey, 60% of security incidents are linked to third-party vulnerabilities. Another survey by Deloitte found that 87% of respondents had had a third-party incident interrupt their operations and 11% had their vendor relationship completely flop.

Seclore claims that its third-party risk management solution in the DCSP allows enterprises to exchange confidential information with third-party parties, like vendors, partners, customers, or even board members without, ensuring that the information is not compromised.

Standing out as a data security solution

While Microsoft (MIP), Vera (now HelpSystems) and Fasoo are other competitive data security solutions, Seclore believes it is capable of interagnavigating current systems and automating tedious operations. These techniques have been discovered and identified, proving to be ineffective and error-prone. Seclore believes the DCSP is capable of automating human tasks.

After reviewing the team, the technology stack, and the total addressable market, we quickly recognized Seclore as the world''s leading data-centric security provider, according to Ron Heinz, the founder and managing partner of Oquirrh Ventures, the company that led the funding round.

Origami Capital, along with Oquirrh Ventures, was involved in the round. The Seclore believes the new investment will help the company''s global workforce as well as its customer base in North America.

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