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Klarytee Raises $900k Pre-Seed Round to Make Data Secure by Default

December 5, 2023

3 Min Read

PRESS RELEASE

London, 5th December: Klarytee, a software platform that builds security into the data itself for large organisations to handle sensitive information, has closed a $900,000 pre-Seed funding round backed by early-stage VC fund Concept Ventures. High-profile angel investors in the deal include former Twitter CISO Micheal Coates, former Group CEO of Bupa, Evelyn Bourke, the founders of cyber security company Digital Shadows, ex-Managing Director of Accenture Brad Cable, and Desigan Chinniah, Board Member of The Tor Project.

Founded by serial entrepreneur Dr Nithin Thomas, who worked in the security industry for 11 years, Klarytee provides businesses with encryption and access control which is built into their most sensitive data to ensure that no matter where information goes it remains secure, with the organisation retaining complete visibility of who has access to it. The idea for Klarytee was inspired by Thomas’ belief that productivity is severely hampered by a security philosophy that restricts the users by securing the data within an organization’s boundaries in an effort to mitigate risk rather than putting controls on the data itself. 

By building a new security product category which encrypts fragments of data at source in real time, any data content is protected beyond the enterprise boundary and across multiple workflows whether documents, SaaS applications or even messaging and social media apps. The local Large Language Model (LLM) integrated into Klarytee scans for sensitive information and applies protection by default to ensure sensitive data cannot be exposed to unauthorized access, including cloud AI platforms such as ChatGPT.

As a Microsoft Partner, Klarytee has developed an add-in for Microsoft Word that can be directly integrated into the document workflow to enable one-click encryption, decryption and authentication. Once an authenticated user decrypts the data, it only exists within the memory of their device or application and is permanently erased once that app or device is closed.

Customers are already using Klarytee in cases where organizations need to share sensitive information on a privileged basis, such as investment banking deal teams, or when leveraging SaaS and public cloud services such as generative AI.

Dr Nithin Thomas, founder and CEO of Klarytee says, "Data has become the most valuable asset a company owns, but evolving workplace habits that require greater collaboration and sharing of data are putting enormous pressures on enterprise security. Imagine being able to receive your banking password via WhatsApp or X without having to worry about compliance or security issues. Klarytee is transforming enterprise security architecture by helping teams to be more productive across the platforms that they use every day while embracing the latest technologies from AI to cloud."

Michael Coates, former CISO of Twitter says, "Klarytee is an essential tool in a CISO’s armory as organizations move to a more data centric security model that focuses on protecting their data over infrastructure beyond the enterprise boundaries. Klarytee’s vision to simplify and consolidate the enterprise security stack by focusing on data instead of infrastructure is incredibly powerful."

Reece Chowdhry, Founding Partner of Concept Ventures says, "The Klarytee platform has the potential to transform the way enterprises secure their data as they continue to embrace cloud, SaaS and generative AI in the workplace. We’re really excited to be part of Klarytee’s journey to enable organizations to embrace new technologies quickly without compromising security."

About Klarytee:

Klarytee is a SaaS-based platform that builds security into sensitive content, enabling large organizations to retain granular control and visibility wherever the data goes. Designed for organizations large and small - and already used by a number of household name brands and Fortune 500 enterprises - Klarytee’s technology encrypts data at the source to provide protection against leaks for sectors such as banking, healthcare, and professional services. Founded in 2021 by experienced cyber security entrepreneur Dr Nithin Thomas, who built his previous startup to secure military and national security communications systems. The company graduated from Accenture Fintech Innovation Lab London as part of its 2023 cohort and is a Microsoft Partner, launching its first product as an add-in for Microsoft Office.

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