Qohash Raises CAD 8M Series A Funding from FINTOP Capital

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Qohash delivers transformational classification and monitoring capabilities to keep your data secure

The year 2020 will go down in history as a uniquely disruptive year – not just for the global health crisis. This was also a year when cybersecurity attacks transformed global enterprises.

It’s labelled the cyber pandemic. During the Covid-19 outbreak, cyber attacks ranked among the fastest-growing crimes in the US, causing large-scale business disruptions. According to the ISACA, an international professional association focused on IT governance, the financial fallout of cyber attacks in 2020 is projected to reach USD 6 billion.

The new cybersecurity risks emerged due to the unprecedented changes in the way organizations did business. As millions of employees worldwide began telecommuting - using personal, unsecured computers – it resulted in a sudden spike in cyber attacks, leading to critical business losses and compromised data.

As cyber threats increased in force and frequency, the need for cybersecurity skyrocketed, with enterprises looking for agile solutions to address issues revolving around data threat and security.

Qohash, a Quebec City-based data security startup, has built a SaaS platform to protect sensitive data via automated data discovery, classification and risk assessment, mapping of sensitive data, and detecting risky behaviour in real-time.

Qohash’s mission to bring digital trust, security and availability to data assets has found huge traction with global enterprises. The startup recently announced raising CAD 8 million in Series A funding led by venture capital firm, FINTOP Capital. What makes the funding noteworthy is that it happened within a timeline that was much faster than what the Qohash and FINTOP Capital teams anticipated.

With an ambitious blueprint to expand across North America and drive commercialization, Qohash also announced that John Philpott, General Partner, FINTOP Capital, will join Qohash’s Board of Directors.

Qohash has built next-generation cybersecurity solutions to provide enterprises with optimum safety in an increasingly data-driven world.

With elevated concerns around data security and privacy, business leaders want to know where their sensitive data resides, who has access to it and how best to protect it. Qohash’s flagship SaaS platform QostodianTM allows companies to monitor sensitive data flow between employees and their personal computers and accounts, to detect high-risk situations in real-time.

Qostodian makes it possible to secure data with superior deployment, cost, and performance parameters. Since it’s a SaaS platform, it does not require any infrastructure. It can be deployed within two days across enterprises, then it monitors workstations, emails, and cloud sources, and provides real-time actionable results.

Qohash ReconTM, is an on-premise platform, that empowers organizations with an instant ability to discover and classify sensitive data on network drives and servers. The platform comes with many pluses – the complete application can be installed in quick time, it supports all popular file formats, provides results within minutes instead of hours, and takes away the pain and huge costs that data discovery and classification traditionally required.

“Customers want data protection that can evolve to meet new challenges,” said Qohash CEO Jean Le Bouthillier. “Qohash’s solutions are easy to deploy and cover on-premise and cloud-based sources. Qohash has worked with several security-conscious, industry-leading firms, helping them achieve their goals faster, with greater flexibility.”

“We are investing capital into a company that is laser-focused on delivering data security solutions that are highly accurate and easy to operationalize,” said FINTOP’s John Philpott. “The discovery, control, and risk management of sensitive data is a top priority for organizations today, as a push towards remote work and zero trust distributed architectures continues to grow.”

About Qohash:

Qohash is a leader in data security software development, building innovative and easy-to-understand security technologies that allow enterprises to gain 360-degree visibility into their data. Founded in 2018, Qohash is currently available in the U.S. and Canada. It has scaled rapidly to provide customers with solutions tailored to meet today’s hybrid and remote work environments in the financial services sector.

About FINTOP Capital:

FINTOP Capital is a venture capital firm focused on Financial Technology (FinTech) companies with offices in Nashville, Tenn., St. Louis, Mo., and New Jersey. They bring strong networks, experience, and capital to entrepreneurs building B2B service-enabled SaaS and software companies in the FinTech space.

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Sophie Lapointe
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since: 04/2020
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