Cryptographic key management and protection outfit Unbound Tech has raised $20 million in Series B funding to splash out on its global channel.
Unbound’s next-gen key orchestration platform provides the cryptographic infrastructure to enable enterprises worldwide to easily secure and manage all their information and digital assets. The latest funding round is led by Evolution Equity Partners, joining existing investors Innovation Endeavors, Goldman Sachs, Citi and BlueRed Partners, to help further fuel its global growth.
Following the funding round, Unbound will focus on growing its business in the Enterprise sector. Enterprises worldwide can benefit from the agility and efficiency of Unbound’s software-based cloud-agnostic solution. To support this mission, the company plans to increase its headcount an additional 30 percent by the end of Q1 2021.
Yehuda Lindell, co-founder and CEO, Unbound Tech said: “This funding will propel us on our mission to continue evolving cryptographic key management and protection solutions for enterprises around the world. We are delighted to welcome J.R. Smith to the board and look forward to having him guide us on our journey.”
Evolution Equity Partners is an international venture capital investor managed by investment and technology entrepreneurs that helps develop market-leading cyber-security and enterprise software companies. As part of the funding deal, J.R. Smith, a partner at Evolution Equity Partners, will join Unbound’s board. Prior to joining Evolution, Smith was Chief Executive Officer of AVG Technologies where he was responsible for strategy and operations and led the company to a New York Stock Exchange IPO in 2012.
Smith added: “Unbound Tech has been a great success story so far, pioneering invaluable security and privacy solutions through innovative cryptographic methods. We are excited to help the company continue to scale globally. The demand for easy-to-manage security solutions is constantly growing and Unbound is well poised to become a global leader in this space.”
