Global: Klarytee Secures £700,000 Funding for Advanced Encryption Tools

London-based cybersecurity startup Klarytee has successfully raised £700,000 in pre-seed funding for its innovative encryption tools designed to safeguard sensitive data for businesses.

Established in 2021, Klarytee has developed a software platform that ensures companies can keep their data encrypted while maintaining accessibility for authorized personnel.

Founder Dr. Nithin Thomas emphasized that the inspiration behind Klarytee was driven by the observation that security systems often hinder productivity by unnecessarily restricting data access for authorized individuals.

As workplace practices evolve, demanding increased collaboration and data sharing, enterprises face significant challenges in maintaining robust security. Thomas explained, “Data has become the most valuable asset a company owns, but evolving workplace habits that require greater collaboration and sharing of data are putting enormous pressures on enterprise security.”

Klarytee employs advanced AI technology, integrating a large language model (LLM) into its platform. This LLM scans for sensitive information and applies protection to the relevant data.

A strategic partnership with Microsoft allows Klarytee’s software to be integrated into Word as an add-on, enabling encryption, authentication, and decryption of documents.

The funding round saw contributions from Concept Ventures and several notable angel investors, including Michael Coates, former Chief Information Security Officer at Twitter, Evelyn Bourke, former Bupa Group CEO, and Brad Cable, ex-Managing Director of Accenture.

Michael Coates expressed the significance of Klarytee’s role in a Chief Information Security Officer’s toolkit. As organizations transition to a more data-centric security model, focusing on protecting data beyond enterprise boundaries, Klarytee’s vision to simplify and consolidate the enterprise security stack is deemed powerful.

The funding injection will likely propel Klarytee in advancing its encryption tools and contributing to the evolving landscape of data security in enterprises.