Investment Reflects Urgent Market Demand for Heightened Information Protection and Cyber Resilience
Myota, a next-generation information security and cyber resilience SaaS platform provider, today announced a $3.65 million Series A2 investment to support its growth. PACA Ventures led the round, which included several leading regional technology investors.
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“The Myota platform provides enterprise information security stakeholders with increased data protection, resilience, visibility, and control, at a time when cyber threats targeting businesses have reached unprecedented levels,” said Myota CEO Steve Wray. “We plan to leverage the current funding round to accelerate our growth and expand the market impact of this next-generation approach to information protection.”
Headquartered outside of Philadelphia, Myota (myota.io) recently completed development of the initial commercial version of its enterprise B2B SaaS platform. The Myota platform is designed to inhibit data loss and ensure operational resiliency from ransomware attacks, data breaches and compromised storage environments. By leveraging advanced “shred and spread” data dispersion methodologies, the Myota platform renders stored information unusable by attackers. Myota protects data on user devices, while in transit, and within storage environments.
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“Every business and nation in the world is concerned about the growing proliferation and sophistication of cybercrime,” said Dr Jo Webber FRSC, Partner at PACA Ventures and CEO of Pod Network. “We are excited by the innovative approach of the Myota’S framework and believe this solution will have a huge impact on the ability of businesses to defend their critical data.”
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