Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk

5/27/2010
11:12 AM
Dark Reading
Dark Reading
Products and Releases
50%
50%

Cloud-Ready Data Integrity Service Gaining Ground

GuardTime raises $8 million in Series A funding

MOUNTAIN VIEW, SINGAPORE, TALLINN (May 25, 2010) GuardTime, the provable integrity company, today announced that it raised $8 million in series A funding to help roll out its global infrastructure for delivering its provable data integrity service.

The companys unique approach a service architecture that provides independently verifiable proof of data integrity has attracted investors, including: Horizons Ventures, a Hong Kong based investment fund focusing on early stage technology companies; Ambient Sound Investments, an investment fund formed by the founding engineers of Skype; Infocomm Investments Pte Ltd (IIPL), a wholly owned

subsidiary of the Infocomm Development Authority of Singapore (IDA) that complements IDAs industry development efforts in Singapore with equity investments; FITOne Capital, a subsidiary of FIT-One Holdings, an IT startup business incubator in Japan and Joi Ito, CEO of Creative Commons, entrepreneur, and venture capitalist.

For internal control, regulatory transparency and legal admissibility, businesses need to be able to prove that their data is intact, said Mike Gault, CEO of GuardTime. The current data integrity model involves buying expensive hardware/software from companies such as EMC, IBM, or Hitachi Data Systems, and relies on rigid and costly internal processes. With GuardTimes solution, proof depends solely on the data itself free from the choice of storage device, third party validation, or well kept secrets or keys.

Financial institutions, in particular, are under an enormous amount of pressure to strengthen internal controls, said Benn Shepherd, CEO of JB Drax Honore, the world's largest broker of listed European interest rate options. With GuardTimes solution, we can prove to our regulators, clients and auditors that data is legitimate and unaltered by insiders or outsiders for a fraction of the cost of other solutions on the market.

GuardTime has the potential to transform the storage industry, said Yukihiro Kayama, Chairman at GuardTime and a former global head of Mistubishis technology business. The trend of enterprise adoption of cloud storage will continue to accelerate and GuardTimes solution provides an extremely cost-effective method for businesses to prove that data in the cloud is intact.

GuardTime's service is helping businesses across multiple industries, including financial services, government, telecommunications and healthcare, by strengthening control and reducing costs.

###

About GuardTime

GuardTime is headquartered in Singapore and was founded in Estonia by cryptography experts Dr. Mrt

Saarepera and Dr. Ahto Buldas along with Joi Ito and Ambient Sound Investments (ASI), an investment fund formed by the founding engineers of Skype. For more information on GuardTime please visit

http://www.guardtime.com/.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
News
FluBot Malware's Rapid Spread May Soon Hit US Phones
Kelly Sheridan, Staff Editor, Dark Reading,  4/28/2021
Slideshows
7 Modern-Day Cybersecurity Realities
Steve Zurier, Contributing Writer,  4/30/2021
Commentary
How to Secure Employees' Home Wi-Fi Networks
Bert Kashyap, CEO and Co-Founder at SecureW2,  4/28/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you today!
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-24259
PUBLISHED: 2021-05-05
The “Elementor Addon Elements� WordPress Plugin before 1.11.2 has several widgets that are vulnerable to stored Cross-Site Scripting (XSS) by lower-privileged users such as contributors, all via a similar method.
CVE-2021-24260
PUBLISHED: 2021-05-05
The “Livemesh Addons for Elementor� WordPress Plugin before 6.8 has several widgets that are vulnerable to stored Cross-Site Scripting (XSS) by lower-privileged users such as contributors, all via a similar method.
CVE-2021-24261
PUBLISHED: 2021-05-05
The “HT Mega – Absolute Addons for Elementor Page Builder� WordPress Plugin before 1.5.7 has several widgets that are vulnerable to stored Cross-Site Scripting (XSS) by ...
CVE-2021-24262
PUBLISHED: 2021-05-05
The “WooLentor – WooCommerce Elementor Addons + Builder� WordPress Plugin before 1.8.6 has a widget that is vulnerable to stored Cross-Site Scripting (XSS) by lower-priv...
CVE-2021-24263
PUBLISHED: 2021-05-05
The “Elementor Addons – PowerPack Addons for Elementor� WordPress Plugin before 2.3.2 for WordPress has several widgets that are vulnerable to stored Cross-Site Scriptin...