Virtru provides a range of data protection products that offer email encryption, secure sharing, access controls, etc. for customers who need to meet privacy and compliance requirements. Virtru offers the Trusted Data Format (TDF) to secure data, a wrapper that encrypts and holds the underlying data for secure sharing. The company was co-founded by Will Ackerly, a former staffer of the National Security Agency (NSA) who invented the TDF during his tenure at the NSA. As of September 2020, the company’s platform is used by more than 20,000 organizations.
The products offered by Virtru can also be leveraged to transfer data across the organization in line with privacy regulations such as GDPR, CCPA, and others, by encrypting and preventing unauthorized access to sensitive information (for instance, sharing data to fulfill a data subject rights request).
In January 2022, the company raised USD 60 million in a Series C funding round co-led by ICONIQ Growth and Foundry Capital. The funds were to be utilized to accelerate new product launches across its data protection portfolio, build more integrations with SaaS applications, enhance application programming interface (API) and software development kits (SDK) for third-party developers, and double its headcount of 150 (as of January 2022) across sales and marketing, R&D, and customer success teams during 2022.
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