Securing another funding round led by Molten Ventures, data startup Worldr has reached $11m in seed investment.
Worldr surfaced in 2019 with zero trust architecture for high-profile communications platforms like Whatsapp, to help solve data compliance issues in the current climate of data breaches, geopolitical tensions and strict regulatory frameworks on privacy.
Worldr is pathing the way for data sovereignty when enterprises share information over communication and collaboration platforms, such as, Microsoft Teams, WhatsApp, Outlook and Slack, which has attracted funding help from Molten Ventures in its latest funding round. The company has also received funding from IQ Capital and Playfair Capital.
According to the latest statistics, this response is needed to combat an exponential rise in cyberattacks on organisations that occurred 31% more frequently in 2021 than in 2020.
The Worldr architecture offers enterprise-level security and compliance by storing all communications and files within the customer’s own environment. Bypassing a third-party provider’s own servers allows organisations to retain full ownership of their enterprise data, so employees can continue using the platforms they love without the added risk to their data.
The end solution will be a software-agnostic architecture that will operate to secure an organisation’s entire data environment to maintain data sovereignty and compliance, concerns with using Whatsapp in the workplace. Workplaces are curbing the use of private messaging platforms that violate data privacy laws.
Fines worth $1.8 billion have been issued across 16 US financial institutions but Wordlr’s data proposition enables businesses to enhance their open communication channels with the customer and stakeholders while balancing SEC, GDPR and FINRA compliance standards and retaining data privacy.
Max Buchan, CEO at Worldr, commented: “Data sovereignty has never been more important. The increase in cyberattacks, data localisation requirements, and scrutiny from regulators mean that it is no longer enough to blindly trust that collaboration platforms are keeping business communications secure and compliant. Companies rightfully want control of their data to protect themselves against operational, reputational and regulatory risk. This has not only fuelled demand for our zero trust architecture for Microsoft Teams, but we are also being challenged to apply this solution across an organisation’s entire software environment. This funding will be critical to helping us further this mission and scale to meet the demand”.
Leonora Ross-Skinner, Investor at Molten Ventures said: “The move towards zero trust and data sovereignty is becoming critical for any entity which deals with sensitive information. Worldr’s unique product set optimises for privacy, security and data protection with seamless integration into existing enterprise software. Crucially, with Worldr, data is controlled by the enterprise itself, marking an incredibly important step forward in data sovereignty.
“Having made several investments in the cyber and privacy space we really look forward to working with Max, his world-class team and our esteemed fellow investors to build a category-leading company with the fundamentals of security, privacy and data protection at its core.”
Worldr is headquartered with an office in New York to support the company’s on-going relations with Microsoft.
It plans to outreach to the Middle East, with a base already being set up in Dubai.