Qohash Secures $8 Million in Funding With Cutting-Edge Data Security Solutions Helping Companies Stop Global Increase in Data Breaches
FINTOP Capital Leads Investment With General Partner John Philpott Joining Qohash’s Board of Directors
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Far too many companies are unwittingly using data security technologies that are cumbersome and outdated, leaving them unable to face today’s challenges, let alone equipped to anticipate tomorrow’s. Qohash is the disruptor in an industry that is becoming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 Qostodian 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 Recon, 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.
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“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.”
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