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Bessemer Venture Partners leads $6m financing round for ex-NSA founded encryption company

18 Jun 2014

padlockEncryption software company Virtru has raised $6m in its latest financing round led by early-stage investment firm Bessemer Venture Partners.

It brings the total raised by Virtru to $10.3m, which the company said will go towards bringing end-to-end encryption to all internet users via their personal email service.

Bessemer partner David Cowan will join the company’s board of directors alongside Authentic8 chief executive Scott Petry, who founded email security company Postini, and Sonatype head Wayne Jackson.

Virtru was launched in January by former National Security Agency cryptographers, who plan to expand beyond email security to texts, posts, tweets, and other digital platforms.

US-based Bessemer’s Cowan said, “Because it’s so complex to securely manage encryption keys, nearly all of the world’s 180 billion daily emails are sent completely unprotected, despite the relentless loss of private messages and files that haunts us all.

“Bessemer set out to find a simple, user-friendly solution.”

The startup’s co-founders Will and John Ackerly said theirs is the only encryption software company that allows users to revoke emails, prevent forwards, and set expiration dates.

These features can be activated even after the messages have already been sent to users of different email systems.

Bessemer has already been named in two fundraisers this month, having joined CRV in ploughing $9.7m in photography technology company Light.

AltAssets also announced that the venture capital firm invested $15m in the Series D round of financing for cloud-based construction management software provider Procore Technologies.

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