Baffle is a California startup that seeks to protect data from breaches. It has received $20 million of Series B financing.
Baffle was founded in 2015 to help thwart the increasing threats to enterprise assets in public and private clouds. Baffle’s approach is different from other solutions, which only encrypt data at rest. Instead of storing data in transit and processing it by applications and databases through “security mesh”, it identifies sensitive data and de-identifies it. It claims that this has no impact on customers’ performance.
According to the startup, its aim is to render data breaches irrelevant by effectively encrypting data everywhere it might be. This will ensure that hackers cannot access and use data even in cases of security breaches.
“Most encryption is misapplied, and quite frankly, doesn’t do anything to protect your data,” the startup claims. The protection methods most often used don’t protect against hacks or breaches in modern times.
Baffle is compatible with all cloud platforms including AWS and Google Cloud, as well as Microsoft Azure. It’s used for protecting more than 100 million records across financial, government and healthcare services. Baffle claims to store records from the world’s top five financial service companies, and five out of 25 top global corporations.
“Securing IT infrastructure–networks, devices, databases, lakes and warehouses–is never complete. Constant change makes it impossible to adopt a zero trust security posture without protecting the data itself,” said Ameesh Divatia, co-founder and CEO of Baffle.
Celesta Capital led the Series B financing round for the startup, more than three decades after it had secured $6M Series A funding. Contributions from National Grid Partners and Lytical Ventures, as well as Nepenthe Capital were made. This brings the total amount of funding at startup to $36.5million.
According to Baffle, it experienced threefold revenue growth in the last year. TechCrunch is told that funds will be used by the company to grow its market share and invest more in product development. Baffle also intends to increase its workforce from 25 to 50 in the next twelve months.
Divatia said, “With this investment we can meet the market demand for cloud-centric data protection that allows responsible digital information sharing while breaking the cycle of privacy and continuous data breaches.”
Publiated at Mon, 16 August 2021 12:23.40 +0000