Jane Edwards
Data security company Virtru has secured $50 million in a new funding round led by ICONIQ.
Virtru said Friday it will use the capital to accelerate the adoption of the open standard Trusted Data Format, or TDF; expand protection for sensitive artificial intelligence and analytics workflows; and scale mission-critical platforms in support of defense and critical infrastructure partners.
“AI represents a seismic shift in business workflows, dramatically amplifying the need for precise, data-centric security that moves seamlessly with data across all boundaries. This funding is a seminal moment as we continue to scale Virtru and make TDF the open platform of choice for data-centric security,” said John Ackerly, co-founder and CEO of Virtru.
Bessemer Venture Partners, Foundry and The Chertoff Group participated in the latest funding round, bringing Virtru’s valuation to about $500 million.
What Is the Trusted Data Format?
Virtru Co-Founder and Chief Architect Will Ackerly invented the TDF open standard while working at the National Security Agency.
The U.S. government and its allied partners have adopted TDF as the data protection standard in support of national defense and intelligence missions.
Enabling Microsecurity With TDF
According to Will Ackerly, TDF enables microsecurity by allowing IT leaders to protect internal data and data shared externally.
“Our vision is to cement TDF as the global standard in data-centric security, empowering both commercial enterprises and government agencies to collaborate securely in the AI era,” he added.
