Sotero Closes $8 Million Seed Extension Funding Round to Support Exponential Growth as the Leader in the Data Security Market

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Jul 25, 2022, 09:00 ET

New Investor OurCrowd led the round with participation from existing investors Gutbrain Ventures, PBJ Capital, and Boston Seed Capital

BURLINGTON, Mass., July 25, 2022 /PRNewswire/ -- Sotero, the leader in revolutionary data security, today announced an $8 Million extension of their seed round, bringing the round to a total of $13 Million. Israel's OurCrowd led the round with participation from existing investors, Gutbrain Ventures, PBJ Capital, and Boston Seed Capital.

Sotero Co-founders, CTO Shanthi Boppana & CEO Purandar Das

Sotero is reshaping the data security market with the industry's first data-focused security platform. Sotero's data-centered solution consolidates all data instances, applications, and security point solutions into one easy-to-manage platform that provides complete visibility, governance, and auditability of all data assets.

"We are grateful for our existing investors who have been very supportive of our organization and vision. We extend that gratitude to our new investor OurCrowd that sees our product's value. Today, with Sotero, customers are securing structured and semi-structured data. With this funding round, we will invest resources into technology development to expand that security to unstructured data, which more than 90% of the market is struggling to protect today," said Purandar Das, Co-Founder, and CEO of Sotero.

OurCrowd is a global venture investing platform that empowers institutions and individuals to invest and engage in emerging companies. With access to OurCrowd's support, including mentorship, industry advisors, and an extensive network of multinational partnerships, Sotero will accelerate its significant growth in the U.S. data security market, further expanding its technology to secure all data anytime, anywhere. The majority of Sotero's current customers utilize this cutting-edge technology for cloud data security, compliance requirements, or securely sharing data for collaboration.

OurCrowd CEO Jon Medved said, "Sotero brings together for the first time full and easy access to enterprise data, together with unparalleled security controls. These seemingly contradictory demands become smoothly integrated into the Sotero data security fabric. We are proud to lead this funding round for this extraordinary company."

About Sotero:

Sotero is the global innovator and leader in revolutionary data security. Sotero's data security platform provides visibility that enables our customers with an easy way to protect data anytime, anywhere, regardless of data store, integration mechanisms, and user tools. The platform controls, accesses, operates and uses data to extract information that drives organizational business outcomes and innovation.

Sotero provides organizations with a scalable and flexible data security solution that migrates and moves data securely, in all its instances in an interconnected world. Organizations gain complete control over their data privacy, compliance, audibility, and governance for use cases ranging, including securing data at the edge, IoT devices and streaming data, and moving data securely to downstream systems.

About OurCrowd:

OurCrowd is the online global venture investing platform that empowers institutions and individual accredited investors to invest and engage in emerging technology companies at an early stage. Acclaimed by PitchBook as the most active venture investor in Israel, OurCrowd vets and selects companies across all sectors and stages, invests its own capital, and provides its global platform of over 215,000 registered members from 195 countries with unparalleled access and freedom to co-invest from as little as $10,000 in the companies and funds of their choice.

Founded by CEO Jon Medved in 2013 with the vision of democratizing world-class venture capital investing, OurCrowd has grown rapidly into the world's leading online venture investing platform and as of 2021 has received over $1.9 billion in commitments, and deployed capital into more than 347 portfolio companies and 39 funds across five continents. To date, OurCrowd's startups have recorded 59 exits including several stock market listings: Beyond Meat, Lemonade, Innoviz, Hub Security; and numerous high-profile acquisitions: JUMP by Uber, BriefCam by Canon, Argus by Continental, Crosswise by Oracle, Replay by Intel, Corephotonics by Samsung, CyberX by Microsoft, and Kenna Security by Cisco. OurCrowd builds value for its portfolio companies throughout their lifecycles, providing mentorship, recruiting industry advisors, navigating follow-on rounds and creating growth opportunities through its network of multinational partnerships.

For any press inquiries regarding Sotero, please contact Anne Gotay, VP of Marketing, at [email protected].

SOURCE Sotero Corporation