Cybersecurity startup Antimatter launched today in stealth mode and announcement that it closed a $12 million seed funding round led by NEA.
More than half a dozen other investors also participated in the Series A round. These included General Catalyst and UNION Labs, as well as the founders of Snowflake Inc., Databricks Inc., VMware Inc. and several other business technology.
Antimatter, incorporated as True Technologies Inc., develops a platform that aims to help software-as-a-service providers simplify their cybersecurity operations.
Companies often store sensitive business data in the SaaS products they use. As a result, SaaS providers must implement numerous cybersecurity measures to protect customer data from hacking attempts. Setting up the necessary cybersecurity infrastructure takes a lot of time and effort.
The Antimatter platform aims to simplify the task. The startup says its platform, which is currently in beta, will allow SaaS providers to protect customer data without having to make significant changes to their code or infrastructure. The startup also promises to simplify a number of related tasks.
Antimatter says its platform protects data using secure enclaves, a technology included in some Intel Corp processors. and other chip makers. The technology turns part of a server’s memory into an encrypted data processing environment. This environment is isolated from the rest of the server, which means it cannot be hacked even if another workload running on the same machine is infected with malware.
In addition to simplifying cybersecurity tasks, Antimatter also plans to help SaaS companies with the process of managing where they store customer data. Some organizations must retain data in the jurisdiction where it was generated to comply with regulations. According to Antimatter, its platform includes features that can make it easier for SaaS companies to meet customer regulatory requirements.
“We’re solving one of the toughest problems we’ve had as founders of SaaS — a problem that almost everyone we spoke to called a big headache,” said the co-founder and Antimatter CEO Andrew Krioukov (pictured, left, with co-founders Michael Andersen and Beau Trincia). “We’re seeing overwhelming enthusiasm from CTOs who consider our solution a ‘holy grail’ for meeting customer data security requirements without a huge boost from their development or DevOps teams. »
Antimatter plans to use this round to hire more engineers and continue to develop its cybersecurity platform.