/Security

News and resources on cyber and physical threats to banks and fintechs worldwide.

Goldman Sachs leads $35 million round in Very Good Security

Source: Very Good Security

Three years ago, Very Good Security (VGS) embarked on a mission to prove a novel concept in the data security landscape: the best way to protect sensitive data is to not possess it in the first place.

Since 2016, we have enabled our customers to adopt a “Zero Data” approach to de-scope their systems from interacting with sensitive data, while allowing them to maximize data utility and quickly achieve compliance certifications.

What started as a modern approach to data security and achieving compliance has evolved into a competitive advantage for our customers. We have been thrilled to support the innovations, new product lines, and overall growth of our customers. What is most exciting to us is that our customers have been able to scale without holding millions of sensitive and regulated pieces of data on their systems.

We’ve seen our customers issue credit cards without ever seeing the card number; run background checks without needing to hold Social Security Numbers; and route payments to multiple processors to optimize costs and ensure redundancy. We have proven that VGS gives our customers all the benefits of interacting with sensitive and regulated data without the liability and cost of securing it.

vgs-building-blocks

Today, we are thrilled to announce that we have raised our Series B funding led by Goldman Sachs’ Growth Equity Business within the Merchant Banking Division (Goldman Sachs) with participation from existing investors, including Andreessen Horowitz (a16z) and Vertex Ventures US. We are excited to partner with our newest investor, Goldman Sachs, along with our existing investors to help companies ensure user privacy and data security without compromising functionality or business outcomes.

In addition to helping us to grow our team, fuel product development, and support more enterprise customers, this funding will accelerate our mission to ensure the ubiquity of best-in-class data security and privacy.

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