Calamu, a cybersecurity startup in its early stages that is developing technology to aid organisations in recovering from ransomware infestations, has raised $16.5 million in venture capital funding.
The Series A investment takes the amount raised by the Clinton, New Jersey-based company to $20 million, which will be utilised to expand the team and improve the product platform.
Insight Partners led the fresh round of funding, with Dell Technologies Capital joining as a seed investor.
Calamu is developing a clever approach to data security and protection that involves encrypting and fragmenting data at the source — cloud applications or local file systems — and scattering individually re-encrypted fragments across big-cloud storage locations like Amazon AWS, Microsoft Azure, and Google Cloud.
According to Calamu, because a complete data object does not reside in any one area or provider, this redundant virtual storage environment (also known as a data harbour) helps to minimise widely exploited attack vectors.
“With the continual danger of ransomware and rising regulatory pressure, keeping critical data out of enemy hands is a top issue for the company.” Hackers continue to infiltrate commercial data systems, whether the data is hosted in the cloud or on-premises, and have discovered new ways to circumvent defensive tactics and disrupt operations, according to the company.
Calamu data is useless to hackers if taken, and it instantly self-heals if attacked by ransomware,” the company claimed.
According to Calamu CEO Paul Lewis, the system prevents attackers from obtaining anything of value while allowing authorised users and programmes to access pristine data as if nothing had happened.
Calamu’s fundraising round comes as global enterprises grapple with an uptick in data-extortion ransomware assaults over the previous two years.
Ransomware is a big threat for government organisations and businesses of all kinds, according to a new advice released this week by the US government’s cybersecurity response agency CISA.
According to the agency, ransomware affected 14 of the 16 critical infrastructure sectors in the United States in 2020, and ransomware groups are now focusing on mid-market targets in the United States.