Mary-Louise Hoffman
Washington, D.C.-based data encryption company Virtru has secured $60 million in a financing round that it will use to ramp up new product delivery.
With the new capital, Virtru will also add sales and marketing personnel, pursue a customer success program and embark on research and development projects, the company said Thursday.
Iconiq Growth and Foundry Capital co-led the funding activity. Bessemer Venture Partners, MC2, New Enterprise Associates and Tiger Global were the other investor participants.
Virtru appointed Matt Howard, former chief marketing officer of Sonatype, to the same position to help drive growth initiatives.
Additionally, MC2 co-founder and Executive Chairman Michael Chertoff and Foundry Capital CEO Jon Ein will serve on Virtru’s board of directors.
The software provider based its technology on the object encryption standard known as Trusted Data Format to help customers protect sensitive information processing across email, file-sharing and cloud computing platforms.
John Ackerly, CEO of Virtru, said the company aims to make TDF the open standard for data protection tools intended to support the zero trust cybersecurity approach.
