– USA, CA – InCountry, the first Data-Residency-as-a-Service platform, has raised $15 million in Series A funding led by Arbor Ventures of Singapore, Global Founders Capital of Berlin, and Mubadala of Abu Dhabi, with participation from previous investors including Caffeinated Capital, Felicis Ventures, Charles River Ventures, and Team Builder Ventures. This new round brings its total capital raised to $21 million. Due to overwhelming market demand as companies face country-specific data regulations, InCountry will use the funds to open regional offices in Singapore, Berlin, and Abu Dhabi, and launch its new product, InCountry Border, that will offer industry-first encryption and data handling capabilities that stay within border lines.
Melissa Guzy, co-founder and managing partner at Arbor Ventures, will be joining the board.
To date, more than 80 countries around the world have implemented data sovereignty regulations, including Germany, Brazil, China, and India. In the U.S. alone, at least 25 states have passed data privacy laws, many of which go into effect January 2020. Yet, according to a TrustArc survey, 86 percent of U.S. companies still aren’t compliant with global data regulations.
“The rapidly evolving and complex global regulatory landscape in our technology-driven world is a growing challenge for companies,” said Melissa Guzy of Arbor Ventures. “InCountry is the first to provide a comprehensive solution in the cloud that enables companies to operate globally and address data sovereignty. We’re thrilled to partner and support the company’s mission to enable global data compliance for international businesses.”
Currently operating in 65 countries, InCountry’s platform securely stores, processes, and regulates profile data in its country of origin. The solution helps multinationals scale by providing easy integration in under ten minutes, with one click of a button. Enterprises outsource the majority of their compliance risk, while safely and securely storing data in each country they operate in.
“Companies are struggling to comply with GDPR, and as more laws are being written every week, it has led to business-ending consequences for infractions,” explains Peter Yared, founder and CEO of InCountry. “InCountry provides the most comprehensive compliance platform on the market, using sophisticated software now combined with on-the-ground legal support, to mitigate and manage risk at every level. The need for this solution resonated with global investors that believe in our mission to provide a secure platform that protects citizens data.”
The introduction of InCountry Border will provide a suite of new features to further secure and streamline the storage and processing of protected data, including:
Localized encryption – In an industry first, customers can manage and store regulated citizen data without the data leaving its country of origin
High availability in highly-regulated countries – InCountry has increased server capacity in highly-regulated countries such as Russia, India, China, Vietnam, Indonesia, United Arab Emirates, and Germany
Integrates without coding – Customers can integrate with InCountry using domain-overlay technology so that InCountry points-of-presence can manage citizen data between the user’s browser and the customer’s global web application.
As a leading Industry 4.0 SaaS provider to global manufacturers, Poka’s compliance with local regulations related to storing and processing information is critical. “InCountry Border helps us meet data residency requirements on a jurisdiction by jurisdiction basis without requiring any coding changes to our software,” said Serge Thibault, VP of Information Security at Poka. “This is especially important as it enables us to quickly expand our global customer base with minimal impact on our engineering resources.”
The news comes on the heels of the company’s official launch and $7M in Seed financing, announced in May of this year. Yared is a serial entrepreneur who’s had six exits worth a total of half a billion to companies like Citrix, VMWare, Sun, and Oracle, and was previously the CIO of CBS Interactive.
About InCountry
InCountry is a data-residency-as-a-service platform that securely stores, processes, and regulates data in its country of origin. The company helps multinational companies scale amidst an era where global data compliance regulations are changing constantly and unpredictably. InCountry is backed by Caffeinated Capital, Arbor Ventures, Global Founders Capital, Felicis Ventures, Mubadala, and Charles River Ventures. The company is headquartered in San Francisco, CA.
For more information: https://incountry.com
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