Very Good Security (VGS) provides a developer-friendly Zero Data™ infrastructure platform that acts as a custodian for sensitive data, allowing companies to use and transact with data without storing it themselves. Its platform encrypts and tokenizes sensitive information to streamline compliance with standards such as PCI-DSS, SOC 2, GDPR, and HIPAA. VGS says it more than doubled its customer base in 2020, now processes billions of records, and has seen data under management grow more than 10x year-on-year. Customers range from Fortune 100 firms to companies like Brex, Deserve, DoNotPay, Fast, Mercury, Unit Finance, and Fivestars. The company is developing new capabilities to further automate compliance controls and deliver compounded efficiencies of scale to platform customers. VGS was founded in 2016 and is headquartered in San Francisco, California. Very Good Security (VGS) offers a developer-focused infrastructure-as-a-service that stores and custodies sensitive data such as payment card numbers and personal information so customers never have to hold that data themselves. Its “Zero Data” approach de-scopes customers’ systems from handling PII and regulated payment data, helping firms pursue certifications like PCI and SOC2 more quickly. VGS’s platform enables use cases such as issuing credit cards without exposing card numbers and running background checks without handling Social Security numbers. The company positions its infrastructure to accelerate product development, partnerships, vendor diligence, and overall business agility for regulated businesses. Visa has selected VGS as a launch partner for its Fintech Fast Track program, and the companies say they will broaden access to VGS’s services for fintechs and large enterprises. Very Good Security offers a SaaS platform that stores sensitive customer data in secured vaults and provides tools for businesses to access, edit, and process aliased versions of that data. Its product replaces sensitive fields (for example credit card numbers or medical information) with unreadable aliases that remain usable but are useless to hackers. The company positions customers as “zero data” — companies that do not store their own user data — which it says reduces attackers’ ability to steal information and relieves businesses of maintaining secure data environments. Very Good Security says it helps startups and businesses launch and grow by offloading the risk that comes with data custodianship. The company has enlisted customers including Brex and Deliveroo, indicating adoption among sizable customers. It will use the $35 million Series B to support its “rapid” growth as its customer base increases. Very Good Security offers a vaulting platform that assumes liability for clients' sensitive data by substituting format-preserving aliases for real data and reinjecting originals when operations require them. The product targets startups handling payment card data, Social Security numbers and medical information, and helps customers achieve certifications such as PCI, SOC2, EI3PA and HIPAA. Integration is rapid (about 30 minutes) and does not require app-code changes; fintech customer LendUp uses VGS to serve virtual card numbers that are masked in its databases. VGS charges per data record and per operation, with the first 500 records and 100,000 sensitive API calls free, a $20/month tier that doubles that allotment, then $0.04 per record and $0.02 per operation. The company also arranges insurance for clients, starting with $1 million policies and offering much larger limits (up to $20 million per incident for large customers). Co-founder Mahmoud Abdelkader and VP Marshall Jones lead the company, which emphasizes continuous security monitoring and plans to expand into larger enterprise customers over time.

Total raised

$104M

Funding rounds

4

Latest round

Series C

Latest activity

Dec 2020