Share this article
Data Privacy Startup StrongSalt Raises $3 Million for Encrypted API Service
StrongSalt aims to bring standardized encryption techniques to the blockchain and will showcase its API product later this year.
Updated Sep 13, 2021, 11:29 a.m. Published Sep 26, 2019, 2:00 p.m.
Make us preferred on Google
A new encryption-as-a-service company raised $3 million to bring standardized encryption techniques to the blockchain.
Data privacy startup StrongSalt announced Thursday the closing of a seed round from Valley Capital Partners. Backed by three encryption-related patents, StrongSalt will release its API product later this year at the AWS re:Invent 2019 conference in Las Vegas, Nevada.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
StrongSalt "bakes" its encryption service into workflows and applications and pairs with both permissioned and permissionless blockchains.
"StrongSalt is chain-agnostic, as we can work with almost any blockchain," StrongSalt CEO Ed Yu told CoinDesk. "We use blockchain mainly for three reasons: availability of data, reliability of data and shareability of data."
Yu told CoinDesk blockchain technology is used for the security of sharing hashed data on the platform as well as with customers.
Raymond Choi of Valley Capital Partners said businesses need trustworthy security mechanisms, something that StrongSalt addresses. Said Choi:
“Currently, businesses have to sacrifice security for usability. Because StrongSalt’s innovative platform allows for complete data searchability without giving up sensitive information, it’s taking the stress off data management from businesses who can ill afford to drop the ball from being hacked.”
Valley Capital's Steve O’Hara, who will be joining the StrongSalt board, said the current regulatory environment was the impetus for investing in the company.
“As the regulatory environment ramps up enforcement and forces business to conform to tightening laws, businesses won’t have an easy out if the technology isn’t viable or cost-effective," O'Hara said in a statement.
Combination lock image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin to silver ratio nears levels last seen during the FTX capitulation
Volatility, historical timing, and relative value signals raise questions around a potential blow off top for silver.
What to know:
- Historical silver tops have consistently clustered in the first half of the year.
- The bitcoin to silver ratio has declined toward levels last observed near bitcoin’s 2022 cycle low.
Top Stories
