Data security startup Privafy has officially entered the market with a new security-as-a-service application and $22 million in minority investment to continue scaling its cloud-based business.
Privafy, founded by executives of Verizon and NXP Semiconductors, aims to secure data in motion as it travels across on-prem locations, clouds, mobile, and the Internet of Things. Its app relies on the integrated functionality of encryption systems and VPNs, firewalls, distributed denial-of-service (DDoS) protection, intrusion detection and prevention systems, data loss prevention, and deep content inspection technology.
The goal is a new approach to network security. Technologies developed by the networking industry to protect data are quickly becoming obsolete for today's cloud- and mobile-based workloads, said co-founder and CEO Guru Pai in a statement. SD-WAN and cloud-based point products are often more focused on cost reduction than addressing underlying security flaws.
Privafy aims to do both. Its Cloud Services are built to protect data across business environments from unauthorized intrusions, malware, DDoS, ransomware, and other threats at a lower cost than legacy tools. A central dashboard monitors and manages Privafy security services, including NetEdge to secure on-prem connectivity, CloudEdge to secure public and private clouds, and AppEdge to protect workers on iOS, Android, Windows, macOS, and Linux.
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