Virtru, a company specializing in data-centric security solutions, pulled in $50 million in new funding, which brings its valuation to $500 million. ICONIQ led the round, and Bessemer Venture Partners, Foundry and The Chertoff Group also invested.
Responsible for creating the open standard Trusted Data Format, commonly known as TDF, Virtru offers a platform that’s used by more than 6,000 public and private sector organizations to ensure protections travel with data that’s shared externally. The company is looking to become a leader in providing data security tools for organizations embracing AI.
“Indeed, IT leaders need solutions to protect data inside their walls, but they also need simple tools to protect data shared with the outside world. TDF provides that foundation, enabling what we call ‘microsecurity’ — security bound intrinsically to data. Our vision is to cement TDF as the global standard in data-centric security, empowering both commercial enterprises and government agencies to collaborate securely in the AI era,” Virtru Chief Architect and Co-Founder Will Ackerly said in a statement.
The latest capital raise is expected to help the company accelerate global adoption of TDF, as well as expand AI and analytics workflow protections and scale its offerings for defense and critical infrastructure partners.
