Over the last 18 months, we have seen dramatically accelerated digital business transformation. The amount of data generated and stored in the cloud and on-premise as part of that transformation has and will continue to make organizations faster, more intelligent, and more efficient. Unfortunately, it will also mean more headaches, as breaches persist in attempt after attempt to access these valuable enterprise data stores. More advanced data protection that empowers business operations is desperately needed, and the current solutions are inadequate for the task at hand.
Part of the challenge of protecting data more completely includes encrypting it – even if a breach occurs, encryption can mitigate the most severe damage. But because traditional encryption techniques have historically degraded performance, their use as a fail-safe has been limited. Therefore, enterprises today remain in desperate need of privacy-enhancing technologies that will strengthen their protection of vast amounts of enterprise data without increasing the burden on the organization. It’s a significant problem that requires an innovative new company and leading cryptography experts to solve.
That is why today, we are thrilled to announce our seed investment in Vaultree, a company that has developed a searchable, scalable encryption technology and methodology that protects data while preserving its use. Because of our experience evaluating various encryption technologies and cyberstorage capabilities over the past 15 years, we know the technology and team at Vaultree are uniquely qualified to solve the problem at hand. Furthermore, the company offers its technology-as-a-service, designed to help companies easily access its innovative platform.
Vaultree’s novel data security solution will make businesses more resilient, without sacrificing organizational performance.
Co-founders Maxim Dressler, Ryan Lasmaili, and Tilo Weigandt are a powerful team of operators focused on building a scalable, affordable solution that companies will be able to implement quickly. Technical executives Dr. Kevin Curran and Shaun Mc Brearty joined the team to advance Vaultree’s patent-pending searchable encryption algorithms into a highly usable product that will disrupt traditional technologies, being more powerful and easier to use than the incumbent offerings. The executive team has also assembled a group of key industry advisors, including John Stewart, David Currie, and Sarah Armstrong-Smith. These executives have experienced the problem that Vaultree is solving first-hand and are incredibly excited by the product’s possibilities.
We are also thrilled to have made our investment in our seventh country, Ireland, and to be joined by new investment partners Enterprise Ireland and the HALO Business Angel Network, along with luminaries from the Irish technology and business community. The talented development team in Cork, São Paulo, Istanbul, and New Delhi is inspiring. We have long believed in the possibilities of cybersecurity expertise drawn from around the world and are pleased to partner with experts in these new geographies.
As always, Ten Eleven stands by, ready to assist Vaultree in its next phase of the company-building journey. We believe that our expertise in encryption technologies and helping non-US companies enter the US market will be instrumental here. We know that the world needs this solution, which makes data safer and easier to use, and we are incredibly excited for all that will come next for this talented team.