Very Good Security Secures $8.5 Million in Series A Funding

By StartUp City | Wednesday, September 12, 2018

Very Good Security (VGS), a San Francisco, CA-based data security company, raised $8.5m in a venture round of fundraising.

The round was led by Andreessen Horowitz, with participation from NYCA, Vertex Ventures, Slow Ventures, and Max Levchin.

The company, which has raised $9.9m in total funding to date, intends to use the funds to scale its core security product further.

Led by Mahmoud Abdelkader, CEO, and co-founder, Very Good Security is advancing a core security product which lets companies collect, secure and exchange sensitive data without the risk or liability associated with storing it on their systems. By reducing or eliminating data security scope, VGS’ customers can achieve compliance certifications (e.g., PCI, SOC2, EI3PA, HIPAA) and accelerate their time to market.

VGS instead collects and stores the sensitive data in its secure vaults, freeing customers from the costs and liability of building and maintaining their compliant security systems. When customer applications require raw data, VGS identifies that data in transit and swaps it—in real time—for surrogate values that retain the same functionality as the original data.