• Vera

  Participated · Equity · May 2017

  Vera develops data-centric security solutions that enable businesses of all sizes to secure, track and share any type of data. Its platform automates data security, encryption, access control and compliance while providing a complete audit trail and chain of custody across applications, devices and platforms. The solution is positioned to help enterprises comply with a complex web of state, federal and international regulations, including the EU's GDPR. Led by CEO and co-founder Ajay Arora, Vera intends to use the new funding to accelerate expansion into multi-national and European markets. Financially, the company raised $15M in this venture round and has raised over $50M to date. In conjunction with the financing, Clear Venture Partners’ co-founder Chris Rust joined Vera’s board of directors. Vera provides a cloud-based platform that allows users to share data via any service and then apply rules—expiration dates, watermarks, encryption, and restrictions on copy/paste, editing or screenshots—while retaining the ability to revoke access and view an audit trail. The company broadened its original focus on files in motion to protect multiple data types and aims to become Information Rights Management (IRM) as a Service. Vera ended the fourth quarter with over 30 customers and hundreds of thousands of users. It currently employs 70 people (50 in the U.S. and 20 in India) and plans to grow to 110–120 employees by the end of the year. To support growth it will invest the new capital in sales and marketing over the next 12–18 months and increase R&D to add more data types under protection. The CEO emphasized the company’s focus on customer proof points and finding the right market fit rather than taking an outsized valuation early. Veradocs is a Mountain View, CA-based data-security company founded in early 2014 by Ajay Arora and Prakash Linga. The company offers a solution that enables enterprises, IT and end-users to secure and share any digital information across platforms and devices. Its product protects critical enterprise data while allowing users to create, access, edit, store and share data using applications and web services such as email, Dropbox, Google Drive, Microsoft OneDrive and Box. Veradocs was in private beta with top companies in finance, media and entertainment, hi-tech and non-profit industries at the time of the article. The company planned to make the product generally available in early 2015. Around the financing it also added Robin Daniels as chief marketing officer.

No current team members are available.