Parisian cybersecurity firm Cryptosense has raised $4.8 million in a funding round led by Amadeus Capital Partners that also saw participation from BGV and Elaia Partners. Cryptosense reports that the new funds will be used to further develop the company’s partner programme, blaze deeper trails into the US market and hire senior-level executives in both the product and engineering departments.
“At Amadeus, we like businesses with deep IP in specialist areas that can be the foundation to create large (and valuable) businesses,” comments Amadeus’ Nick Kingsbury. “We saw that in Cryptosense. Graham Steel is a world expert in the implementation of cryptography, having been an academic researcher on the topic for a number of years before founding Cryptosense. When I spoke to customers, all were deeply impressed with Graham’s expertise, and in how that has been embodied into an easy-to-use product.”
Founded in 2013 by the aforementioned Steel, Cryptosense is a cryptography management platform that combines automated analysis across a corporate infrastructure, culminating in a real-time view as to how cryptography is protecting sensitive data. Cryptosense counts two of the three largest credit card providers as clients, as well as multiple global government agencies.
Forward-looking, the firm’s offering also integrates with the big three cloud providers, AWS, Microsoft Azure, and Google Cloud, providing control over sensitive off-site data.
If some of this technology, perhaps not directly cryptography, sounds vaguely familiar, yesterday we reported on London’s Panaseer that offers a continuous controls monitoring solution.
When questioned about similarities and differences, Kingsbury adds, “Panaseer provide a broad high-level dashboard on an organisations security estate, connecting to specialist systems covering specific cyber risk vectors. One of those specialist systems could be Cryptosense. They are complementary rather than competitive.”