Quebec City-based data security software provider Qohash has raised C$8 million in a Series A financing. The round was led by US fintech venture capital firm FINTOP Capital. Qohash will use the funds raised to expand across North America and accelerate commercialization.
QUEBEC CITY,QC, Jan. 14, 2021 /CNW/ – As industries continue to face economic upheaval in the wake of COVID-19, data security startup Qohash has announced raising CAD 8 million in a Series A round of funding led by FINTOP Capital. Qohash is the next generation of security for a data-driven world through trailblazing solutions and inclusive company culture.
In the last year, tens of millions around the world now telecommute. In Owl Labs’ “State of Remote Work” report, 52% of employees work remotely at least once per week. The influx of millions operating on personal, unsecured computers gave rise to a wave of cyberattacks in 2020, critically impacting some of the world’s largest brands. According to ISACA, the financial fallout is projected to reach USD 6 billion.
Now more than ever, consumers look for a deeper level of trust regarding their data’s custodianship, and companies have a greater responsibility to protect their customers’ sensitive data. Working with leading financial institutions seeking smarter applications that seamlessly adapt to remote work complexities, Qohash’s data security technology is designed to meet an ever-changing landscape.
Far too many companies are unwittingly using data security technologies that are cumbersome and outdated, leaving them unable to face today’s challenges, let alone equipped to anticipate tomorrow’s. Qohash is the disruptor in an industry that is becoming antiquated and its technology obsolete.
Qohash’s flagship SaaS platform QostodianTM allows companies to monitor sensitive data flow between employees and their personal computers and accounts to detect high-risk situations in real-time. Qostodian makes it possible to secure data with superior deployment, cost, and performance parameters. Qohash ReconTM, an on-premise platform, empowers firms to find and classify sensitive data on network drives and servers — processes that used to take hours now deliver results in minutes.
“Customers want data protection that can evolve to meet new challenges,” said Qohash CEO Jean Le Bouthillier. “Qohash’s solutions are easy to deploy and cover on-premise and cloud-based sources. Working with security-conscious, industry-leading firms, Qohash has helped them achieve their goals faster and with greater flexibility.”
With plans to expand across North America and accelerate commercialization, Qohash has also announced that John Philpott, General Partner of FINTOP Capital, and Laurent Simoneau, President and CTO of Coveo, will join Qohash’s Board of Directors.
“We are investing capital into a company with a laser focus and commitment to deliver data security solutions that are highly accurate and easy to operationalize,” Philpott said. “It’s our view that the discovery, control, and risk management of sensitive data is a top priority for companies continuing the accelerated move to remote work and zero trust distributed architectures.”
As remote working becomes the new normal, data security should be a top priority for any business. Qohash’s passion for helping keep businesses secure with 21st-century solutions to mitigate risks is at the core of their success.
Because Qohash is the future of data security, and that future is now.
Qohash is a leader in data security software development that blends innovative and easy to understand security technologies, allowing businesses to gain visibility on sensitive data. Founded in 2018, Qohash is currently available in the U.S. and Canada and has scaled rapidly to provide customers with solutions tailored to meet today’s hybrid and remote work environments in the financial services sector.
About FINTOP Capital:
FINTOP Capital is a venture capital firm focused on Financial Technology (FinTech) companies with offices in Nashville, Tenn., St. Louis, Mo., and New Jersey. They bring strong networks, experience, and capital to entrepreneurs building B2B service-enabled SaaS and software companies in the FinTech space. To learn more, visit https://www.fintopcapital.com/.