MOUNTAIN VIEW, Calif., November 18, 2014 ‐ Veradocs, a new data-security company that enables enterprises, IT and end-users to secure and then safely share any digital information across platforms and devices, has raised $14 million in financing led by Battery Ventures with participation from Amplify Partners and industry-leading angel investors. In addition, Robin Daniels, the former head of enterprise marketing at Box, has joined the company as chief marketing officer. Roger Lee, general partner from Battery Ventures, has joined Veradocs’ board.
Veradocs is taking an entirely new approach to solving the issues surrounding data security for enterprises. Using Veradocs, end users and IT can set security and sharing policies for corporate data of all types ‐ including but not limited to documents, images, and even emails ‐ and have those policies follow that data wherever it goes. End users and IT can set and change data-access and security policies in real-time, and closely track where data is going, who’s trying to access it and what they are trying to do with it. Veradocs’ technology even controls remotely what people can and can’t do with data, allowing end users or IT staff to instantly remove access to data from anywhere, to anyone at any time ‐ effectively creating a “kill switch” for sensitive material.
“In a world without walls, current offerings stop short at solving the issues around data security, and these issues now extend well beyond traditional highly regulated industries like financial services. The recent celebrity photo-hacking scandal is a clear indication that there is a need for a new and better way to protect any type of sensitive information, not just simple files or documents,” said Ajay Arora, co-founder and CEO of Veradocs. “With Veradocs, we are creating an entirely new way to secure and share information that gives IT strong levels of security while providing consumer-like user experience and choice.”
Veradocs’ solution protects critical enterprise data and enables people to create, access, edit, store and share their data however they want, using the applications, Web services and devices they choose, including email, Dropbox, Google Drive, Microsoft OneDrive and Box.
“Veradocs is creating technology that allows for better data security in a BYOD (bring your own device) and cloud-centered world,” said Lee, of Battery Ventures. “We’ve learned that traditional ‘perimeter’ security techniques aren’t enough to keep sensitive data safe within the corporate firewall, so Veradocs is pioneering a new way to attack the problem.”
“Veradocs provides one of the most pivotal technologies eluding enterprise IT for far too long: a solution truly balancing strong security and simple user experience,” said Nick Mehta, CEO of Gainsight and one of the angels investing in Veradocs. “With its innovative approach, Veradocs is combining the level of security enterprises need with the flexibility users now demand.”
Veradocs has operated in stealth to date. The company was founded by Arora and Prakash Linga, tech veterans whose previous startup, RAPsphere, was sold to Appsense in 2012. Veradocs is currently in private beta at top companies in industries including finance, media and entertainment, hi-tech and non-profit. Veradocs expects its product to be generally available in early 2015. To learn more about Veradocs, visit: www.veradocs.com
Founded in early 2014 by Ajay Arora and Prakash Linga, Veradocs enables enterprises, IT and end-users to secure and share any digital information across platforms and devices. Veradocs’ solution protects critical enterprise data while allowing people to continue to create, access, edit, store and share their data using the applications, Web services (e.g. Box, Dropbox) and devices they choose. The company is backed by Battery Ventures, Amplify Partners and industry-leading angel investors.
Battery Ventures / for Veradocs