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Baffle, a cybersecurity startup, raised $20M in a Series B round led by Celesta Capital. The money will be used to help Baffle grow in order to meet market demand and increase product development. It aims to avoid data breaches by encrypting data from production to processing.
Baffle, a cybersecurity startup, has raised $20 million in a Series B funding round led by Celesta Capital. Other participants include National Grid Partners, Lytical Ventures, and Nepenthe Capital. This Series B, which comes three years after Baffles $6 million Series A, takes the total funding to $36.5 million.
Baffle seeks to prevent data breaches by encrypting data from the point of production to the point of processing. It was created in 2015 to assist businesses in protecting their assets in public and private clouds from cyberattacks. Unlike many other systems that encrypt data in transit and at rest, Baffle’s solution encrypts data as it’s being processed by databases and apps using a “security mesh” that de-identifies sensitive data with minimal performance effect, according to the company.
The firm claims that its objective is to render data breaches “irrelevant” by quickly encrypting data wherever it is stored. Even if a security breach occurs, hackers will be unable to access and use the data.
The startup says, “Most encryption is misapplied, and quite frankly, doesn’t do anything to protect your data. The protection measures that are most commonly used do nothing to protect you against modern hacks and breaches.”
According to the firm, Baffle is now used to secure over 100 billion records in financial services, healthcare, retail, industrial IoT, and government across all major cloud platforms, including AWS, Google Cloud, and Microsoft Azure. The firm claims to have records from five of the top 25 worldwide corporations and the top five global financial services firms.
Securing IT infrastructure—networks, devices, databases, lakes and warehouses— is never complete. Constant change makes it impossible to adopt a zero-trust security posture without protecting the data itselfAmeesh Divatia, co-founder and CEO of Baffle
The cash will be used to help Baffle grow to meet market demand and invest further in product development, according to TechCrunch. Baffle claims to have tripled sales in the last year. It also intends to increase its workforce from 25 to 50 people over the coming year.
With this investment, we can meet market demand for data-centric cloud data protection that enables responsible digital information sharing and breaks the cycle of continuous data and privacy breaches.Ameesh Divatia, co-founder and CEO of Baffle