The company, which was listed on the Nasdaq OMX First North exchange, has customers including five from the Fortune 50 and several government agencies.
Medina founder and managing partner Manuel Medina said, “Large-scale data breaches impacting companies like Target, and their tens of millions of customers, are indicative of the new threat landscape targeting critical data in all industries and underscore the need for the types of secure access controls provided by Cryptzone.
“Through our investment and the strategic guidance to Cryptzone’s leadership team, we believe the company will be ideally positioned to take advantage of a significant market opportunity for leading-edge identity and access management solutions.
“Cryptzone has already gained tremendous traction in the US market and we plan to build on that momentum by establishing a significant presence for the company here in the near future.”
The firm, which was started by former Terremark CEO Medina, launched its debut fundraising effort last year targeting $250m.
The firm was incorporated in 2012 following the purchase of managed IT infrastructure company Terremark by Verizon in a $2bn deal.
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