Cloud security startup Certivox locks down $2.4 million

UK-based startup receives more investment from Octopus and Pentech for security in mobile, cloud

Two UK-based venture companies feel very secure with their recent investment in CertiVox's mobile data security company.

In a second round of Series A funding, existing investors Octopus Investments and Pentech Ventures have put together an additional $2.4 million for the London-based CertiVox, it was announced Tuesday.

This brings the total funding for the company to just shy of $4 million.

CertiVox, founded in 2009 and with head offices in London as well as San Francisco, has created an encryption generated security system for companies and individuals that want their cloud-based data to remain safe no matter how widely they distribute the content.

"We are excited by the continued support from two such well-regarded technology investors," said Brian Spector, CEO at CertiVox, in a statement. "We know that all currently available security approaches have been found wanting with regard to scaling and simplicity required for doing real business in the cloud, and we believe the time is right for our breakthrough security technology."

CertiVox currently offers security solutions for private individuals, companies, enterprises and SaaS (sevice as software) providers.  Rather than relying on a third-party encryption key that is relayed between two different entities, CertiVox created unique private keys generated on demand within the browser that the sender never sees. This increases security while not impeding the sharing of data.

With many companies moving their content to cloud systems, one of the biggest concerns is that only the intended recipients can access and modify the information. A testament to the level of security that CertiVox assures its product to is that the company continues to add customers in the government, defense and financial sectors of industry globally and has been endorsed by the Senior VP of eChannels and Fraud from Bank of America, David Shroyer.

One of the investors, Penetech Ventures, has a history of funding SaaS solutions and internet technologies from digital media and e-commerce to mobile advertising and software protection.

"The need for security and encryption for the cloud is clearly a big market opportunity," said Dr. Sandy McKinnon, Pentech Ventures partner and CertiVox board member, stated on the company site. "CertiVox's encryption platform fundamentally addresses the vulnerability of storing the keys and the data together. The CertiVox platform leapfrogs users' data compliance concerns and simplifies everything about public and private cloud security."

Image Sources -- Silicon.com and CRN