Very Good Security raises $8.5 million to handle companies’ sensitive data
Companies today have to navigate a security and compliance maze to make sure that they’re storing customer data safely and not running afoul of any regulations. San Francisco startup Very Good Security (VGS) is trying to fix that problem by handling the data on behalf of businesses. VGS announced Tuesday that it raised $8.5 million in Series A funding. VGS collects its clients’ sensitive customer data — such as payment information or Social Security Numbers — and stores it in its own “vaults.” Whenever the data is required by customer application, VGS identifies it and switches it for “surrogate values” that have the same functionality. “Because VGS maintains multiple compliances and isolates customers from sensitive data, it enables businesses to quickly achieve regulatory compliance,” the company says. VGS says its solution gives companies piece of mind because it takes on the liability of maintaining secure storage systems — companies won’t […]
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