Blockchain-Powered Encryption Platform StrongSalt Raises $3M In Seed Funding From Valley Capital Partnerbr>
Data privacy-as-a-service startup StrongSalt has raised $3 million in seed funding from Valley Capital Partners.
StrongSalt is an encrypted search and share protocol that offers the first API platform for developers to ‘bake’ privacy into existing applications and workflows. Powered by blockchain technology, StrongSalt’s APIs are blockchain agnostic and open to both permissioned and permissionless models. The protocol’s five-layer abstraction model characterizes secure and private data sharing functions served by an immutable and trustless distributed ledger. The company has three encryption-related patents secured from the United States Patent and Trademark Office.
StrongSalt said in a press release that they will be deploying the new capital injection to further develop its encryption platform-as-a-service for developers and enterprises.
“Every data breach has one thing in common: the data was not encrypted,” said Ed Yu, Founder and CEO of StrongSalt. “Existing current data management ecosystem is a hackers delight causing trillions of dollars in damage to businesses while exposing consumers. We are veterans in enterprise security technology who were tired of seeing the old ‘wall and alert’ model of security repeatedly fail businesses. We decided that instead of looking at the problem from the outside in, we would build privacy from inside out.”
As part of the investment, Steve O’Hara and Raymond Choi of Valley Capital Partners will be joining StrongSalt’s board of directors.
Raymond Choi, General Partner at Valley Capital Partner, said that they invested in StrongSalt because its encryption solution is one of the most advanced and easily integrated systems they’ve seen.
“Currently, businesses have to sacrifice security for usability. Because StrongSalt’s innovative platform allows for complete data searchability without giving up sensitive information, it’s taking the stress off data management from businesses who can ill afford to drop the ball from being hacked,” Choi said.