Skyflow, a US-based secure cloud data storage service backed by insurance group MS&AD Holdings, received $17.5m yesterday in a series A round led by Canvas Ventures that included Foundation Capital
Previously known as Prekari Labs, SkyFlow has built an application programming interface (API) allowing IT developers to implement data privacy protocols in order to secure and catalogue personal information supplied by their employer’s clients.
The series A cash will be invested in the company’s sales and marketing operations in addition to product development focuing on data protection in specific industries. It also intends to recruit more engineering and operations personnel to cope with anticipated demand.
MS&AD subsidiary MS&AD Ventures took part a $7.5m seed round for Skyflow in May this year that was led by Foundation Capital and which included angel investors Jeff Immelt and Jonathan Bush.