North Coast Ventures recently made a seed investment in DAtAnchor, a cyber security software company that has built a simple, low-cost way for organizations to achieve state-of-the-art, zero-trust data-centric security.
Data security is more important than ever before and traditional IT controls place too much burden on business users and often fail to protect data. The number of solutions is minimal and often, those tools are not effective, intuitive or accurate, and require a specific platform to be used across the board, which is disruptive to companies’ workflows, resulting in changing workflows and rebuilding networks.
Due to the growth of the industrial cybersecurity market and increasingly strict compliance requirements, we see a significant market opportunity for a solution like the Anchor platform by DAtAnchor.
Anchor addresses the unmet need of taking the burden of data control off of the end user. It bakes transparent protection into the data itself, so that the data becomes self-protecting. Like an antivirus, data protection is invisible and allows businesses to work freely, without compromising on security.
The Anchor solution is focused on simplicity, transparency and affordability. Because it is a plug-and-play tool, it can be deployed within days, if not hours. Onboarding, deployment and the setup of policies is a fairly quick process. It also currently integrates with all cloud providers and is application-agnostic.
Users are given the ability to define rules of access and set up multi-layered, multi-access authorization security. Files are protected as they’re moving, both online and offline. Users are not able to print, copy/paste, save or screenshot without the required permissions. Businesses are able to customize control access and track access for each file, which is helpful for audit trails as chain of custody.
In addition to the high-value problem the company addresses and unique market position, North Coast Ventures sees significant value in Anchor’s strongest asset - its technology. Novel and clearly differentiated, Anchor is the only data protection solution with an invisible-like finishing, frictionless deployment, data sharing and user experience. Current Anchor customers validate that the solution is a must-have, and express impressively positive feedback about the solution and the team.
NCV’s investment in DAtAnchor is part of the Seed II note, which is being led by Ohio Innovation Fund.
About North Coast Ventures
North Coast Ventures (NCV) is a Cleveland-based early-stage venture capital firm primarily investing in B2B, SaaS companies. With over 400 member investors, NCV is the largest, single-chapter investor group in the country. Since 2006, NCV and its member investors have deployed more than $90M into 67 high-potential ventures.
For more information about North Coast Ventures and its portfolio, visit northcoast.vc.