Australian data encryption cybersecurity startup CipherStash raises $3M | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware

Australian searchable data encryption cybersecurity startup CipherStash Pty. Ltd. announced today that it has raised $3 million in new funding to expand its digital defense offerings against increasingly complex tactics employed by cybercriminals and provide protection against data breaches, identity theft and other digital threats.

Founded in 2022, CipherStash uses advanced queryable encryption technology to keep data encrypted in use rather than just at rest. The feature allows users to see the who, what, where and when of how sensitive data is accessed even when it leaves core systems, allowing development teams to ensure that access controls are always applied.

The company’s service is designed to keep stacks protected, with a pitch that includes “never worry about your sensitive data falling into the wrong hands again” with a promise that CipherStash keeps it safe even when it’s shared across an organization.

The service includes extensive language and database integrations, with support for PostgreSQL, MySQL, MongoDB, Vitess Microsoft SQL Server and Cockroach DB. Support for Rust, C# and Golang are coming soon.

“Our Encryption-in-Use technology provides a layer of defense that isn’t possible with current systems,” said CipherStash founder and Chief Executive Dan Draper. “Access controls can be applied more tightly and unwanted accesses are quickly identified, even as data moves across the organization.”

Skip Capital LLC led the Seed-2 funding round, with participation from SixThirty Ventures LLC.

“Having the Skip Capital team’s network and experience in scaling successful B2B businesses will help unlock new opportunities for us and SixThirty’s collaboration platform and Cyber and Privacy Advisory Board will be an invaluable resource as they understand all the unique challenges in this industry,” Draper added.

CipherStash previously raised a round of $3.3 million in October 2021.  Although the valuation of the new round was not disclosed, it was described by the company as “almost double that” of the 2021 round. Previous investors include AirTree Management LLC and US VC Nexus Venture Partners L.P.

Image: CipherStash


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National Cyber Security