Our journey towards global expansion: new investment secured

Today marks an important milestone in Tresorit’s journey of enabling businesses and individuals to safely store and share documents in the cloud. I’m glad to announce that we closed an €11.5M Series B financing from a consortium led by 3TS Capital Partners. With the help of the investment, we plan to expand globally. Our aim is to bring our solution to businesses and individuals all over the world and empower them to entrust their most sensitive documents to the cloud without compromising their security and privacy.

We started Tresorit back in 2012. We didn’t trust mainstream file sync apps and wanted to create a truly secure service. No tracking, no spying, no monitoring. Only the user sees the content. We wanted to empower everyone – be it a consumer, an NGO, a small business or a large enterprise – to collaborate safely in the cloud knowing that their files are protected from end to end.

At the time, little attention was around privacy and security but then the Snowden revelations about government surveillance came and triggered a public debate about online privacy. Since then, we have seen massive data breaches and scandals about data misuses such as the Facebook-Cambridge Analytica incident. No wonder that legislators felt the need to intervene and introduced strict privacy laws. This May, the EU’s general data protection regulation (GDPR) entered into force creating high standards for personal data protection and with the potential of becoming the global standard. Brazil already followed and implemented its new comprehensive data privacy regulation in August which closely mirrors the GDPR.

Our solution facilitates compliance with these regulations. By doing so, we help to reduce the number of individuals who fall victims of data breaches and see their confidential information compromised. With our unbreakable, end-to-end encryption technology, we provide an ultra-secure place for anyone who wants to protect sensitive information in the cloud without giving up control. While doing so, we also make sure to provide the best user experience possible as we believe that security tools should seamlessly fit into workflows. Our 17.000 customers are the testimony of our success of combining security with ease of use:

  • Thousands of organizations in and outside of the EU turned to Tresorit to protect customers’ personal data in line with the requirements of the GDPR, the EU’s new data protection regulation.
  • Hundreds of law firms use Tresorit to protect their clients’ confidential files.
  • In line with our mission of making the cloud secure for all, we also help organizations that work towards creating social good. We launched our nonprofit program nearly two years ago and we now support more than 500 NGOs with a free, lifetime Tresorit subscription.
  • Several hundred healthcare organizations use Tresorit to protect patient information and comply with HIPAA or other regulations.
  • We also facilitated key industries’, such as financial, telecom and pharma, move to the cloud.

With the help of the new investment, we aim to enable many more organizations to keep control over their data online. To do so, we plan several product improvements such as further control features and password recovery for admins. We will also offer multiple data center support to allow users to change data location for their files for performance and compliance reasons. What’s more, we are launching the Beta version of Tresorit Send, a standalone file sharing product which offers a secure and encrypted alternative to unreliable file transfer sites and email attachments. We will also grow our marketing and sales teams and add new channel partners to further expand our global reach and serve new markets with dedicated personnel and support.

To sum up, we hope to bring our solution to many more customers all over the world so that we empower them to keep their confidential documents safe in the cloud. Insights from our new capital partners and continued support from our existing investors are key in enabling us to achieve this mission. We are very much excited to embark on this journey and tackle any challenges and opportunities that might come our way.

Read our press release to learn more about the details of our investment.

 

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