Sumitomo Leads Series B Investment in PreVeil

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Investment to accelerate PreVeil’s growth in US and Japanese enterprise markets.

"We are thrilled to be teaming up with Presidio and Sumitomo. ... This partnership creates additional opportunities to bring PreVeil’s technology to Sumitomo’s customers in Japan and around the world.” - Randy Battat, CEO PreVeil

PreVeil, a leader in making encryption useable for everyday business, today announced that Presidio Ventures, the corporate venture capital arm of Sumitomo Corporation, has led the investment in its Series B round. Spark Capital, the lead investor in PreVeil’s Series A round, also participated.

Founded in 2016 by veteran entrepreneurs Sanjeev Verma and Randy Battat and leading security researcher Prof. Raluca Ada Popa, PreVeil’s encrypted email and file sharing are the best way to protect sensitive communications and information from cyberattacks.

“We are thrilled to be teaming up with Presidio and Sumitomo,” said Randy Battat, CEO of PreVeil. “PreVeil has been making great progress helping protect both small and large enterprises in segments including Aerospace & Defense, Financial Services, and others. This partnership creates additional opportunities to bring PreVeil’s technology to Sumitomo’s customers in Japan and around the world.”

“Every day brings news of a new hacking incident, with enterprise email often the vector of choice for attackers,” said Ross Leav, Sr. Director at Presidio. “As enterprises rapidly turn to cloud IT platforms such as Office 365 and G-Suite—especially in APAC--it is more important than ever for enterprises to protect their own critical information with end-to end encryption. Still, many hesitate to adopt encryption platforms due to complex implementations and notoriously poor user experience; PreVeil’s answer is a solution so easy to use, everyone will use it.”

Go to PreVeil’s download page to try PreVeil Personal for free or reach out to sales@preveil.com to see a demo and launch a free trail of PreVeil’s enterprise solution.

About Presidio Ventures
Founded in 1998, Presidio Ventures is the wholly owned early stage investment vehicle of Sumitomo Corporation. Presidio works to identify the most promising growth industries and partner with the respective leading startups. Since its inception, Presidio Ventures has invested in over 160 U.S. startups. As a strategic investor, Presidio also assists the companies to expand their business in the Japan and Asian markets. More information is available at http://www.presidio-ventures.com.

About PreVeil
PreVeil makes end-to-end encryption usable for everyday business. PreVeil’s encrypted email works with users’ favorite email apps (like Outlook and Gmail) using their regular email addresses. PreVeil Drive works like DropBox™, but with much better security. All messages and documents are encrypted end-to-end, which means that nobody other than intended recipients – not even PreVeil – can read the data. PreVeil is designed for both small teams and large enterprises.

http://www.preveil.com

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Orlee Berlove
PreVeil
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