SECURITY
SECURITY
SECURITY
HelpSystems acquires data security platform provider Vera Security
IT management software solutions company HelpSystems LLC has acquired data security platform startup Vera Security Inc. for an undisclosed price.
Founded in 2014, Vera offers a platform that enables organizations to secure, track and revoke access to confidential data across any platform or device. Offering services to customers in financial services, manufacturing, media and entertainment, and other industries, Vera said it delivers a balance between strong security and productive collaboration by giving users the ability to secure data at any time.
The company attaches military-grade encryption, access controls, security and policy directly to data, giving companies granular control and audit capabilities over their information. Vera’s platform offers risk mitigation for products such as plans, manufacturing designs, financial strategies and results, and security operations audits. It also covers data subject to regulation such as credit card numbers, Social Security numbers and patient medical records.
For HelpSystems, the acquisition of Vera will allow it to extend its data security portfolio and meet the increased demand for solutions that protect information throughout the full data lifecycle.
“The market for data security is evolving fast to require a comprehensive approach to discovery, detection, classification and dynamic encryption,” Kate Bolseth, chief executive officer of HelpSystems said in a statement Wednesday. “Vera seamlessly integrates and expands HelpSystems data security solution offerings.”
Both companies work with Fortune 500 and other prominent businesses, although only HelpSystems mentions its customers by name. They include International Business Machines Corp., The Coca-Cola Co., Shutterfly Inc., Mattel Inc., FedEx Corp., Staples Inc. and Polaris Industries Inc. HelpSytems counts 22 of the top 25 Fortune 500 companies as clients, including all of the top 10 financial services companies and all of the top 10 healthcare companies.
Prior to acquisition, Vera had raised $50 million in venture capital funding according to Crunchbase. Investors include Clear Venture Partners, Amplify Partners, Leslie Ventures, Battery Ventures, Capital One Growth, Sutter Hill Ventures and Hasso Plattner Ventures.
Image: Vera
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