We are delighted to announce that Molten has co-led a Series A funding round into the cybersecurity company Vaultree, bringing the company’s total funding to $16 million.

Vaultree provides end-to end encryption services allowing for the processing of large amounts of data in the safest zero-trust environment without compromising on performance. This Series A funding round was led by Molten Ventures together with Ten Eleven Ventures, and builds on Vaultree’s October 2021 seed round of $3.3 million. Additional A-round investors include top global cybersecurity company SentinelOne, along with Elkstone Partners, CircleRock Capital, Cyber Club London and prominent cybersecurity experts. Vaultree will use proceeds from this funding round to advance sales, marketing and product development of its data-in-use encryption technology.

Along with product development and securing research and patent registrations, the funds will also be allocated to expanding the team, faster feature releases, added functionalities, bolstered security, service readiness and tech support for a growing pool of dedicated users. Key to the growing popularity among security professionals is the ability to integrate Vaultree’s data-in-use encryption solution without major technology or platform changes. 

With data breaches at an all-time high and new ransomware attacks on the rise in virtually every industry, the need for a security breakthrough is more urgent than ever. Existing solutions rely on decrypting sensitive data before processing, resulting in significant financial, cyber, privacy, legal and business risk in the event of a leak.  

Vaultree’s end-to-end encryption makes it possible to work with fully encrypted data without the need to decrypt the information or surrender security keys. The solution enables Searchable (SE) and Fully Homomorphic Encryption (FHE) at close to plaintext speed – a major leap forward in the secure, scalable processing of data. Unlike common data-at-rest or data-in-transit security controls, Vaultree has developed fully functional data-in-use encryption technology to protect data all of the time — whether in use, at rest or in transit — with no noticeable decline in performance. 

With data in a persistent state of encryption, when breaches occur the data that bad actors can extract is undecipherable and therefore useless. Data-in-use encryption aligns with the principle of zero trust; processing encrypted search and computations over data utilizing standard hardware without ever having to decrypt at the server level. As the new standard for encryption for enterprise, Vaultree’s offering shifts the focus from superficial to foundational security.

Today’s investment is a testament to the company's ongoing momentum, as evidenced by its partnership launch with Google's AlloyDB to offer the first Fully Functional Data-in-Use Encryption in the cloud and its strategic hires including Jane Cummings as CTO and John Johnson as VP of Solutions.

Ryan Lasmaili, CEO and co-founder of Vaultree, said:

“Our Series A is a testament to our team's hard work, perfecting our cutting-edge breakthrough: the world’s first fully functional searchable encryption (SE) and fully homomorphic encryption (FHE). Vaultree's Fully Functional Data-in-Use Encryption technologies empower enterprises with a user-friendly, simple-to-integrate and fully scalable solution without all the hurdles normally associated with FHE and SE.

“Our goal is to make this technology the new benchmark by which all data security is measured, bringing a new level of protection to enterprises worldwide, by rendering breaches and leaks powerless and irrelevant. This funding brings us closer to disarming data breaches and cyberattacks on a global scale; realizing our vision of an encrypted tomorrow for all.”

Edel Coen, Principal at Molten Ventures said:

“For too long, we have accepted that data security and data usability, while both desirable, are fundamentally incompatible: one part of the equation cannot improve without detriment to the other.

“With its next-generation encryption technology, Vaultree is proving that to be false. The problem Vaultree solves is significant and the market for data security is one which will continue to grow. We are excited to work with this exceptional team as they embark on the next phase of their journey.”