As I wrote about previously, investing in cyber security companies is a smart move for savvy investors. Hacking is a real threat to companies, having cost businesses and consumers between $375 to $575 billion in 2014 alone—this alone is proof that better security is desperately needed, deserving of funding, and a great opportunity for investors to hop on board a rising trend.
My company Volta Global has done just that by investing $2 million in FHOOSH, which offers a unique, drop-in, software platform that helps organizations protect and power valuable data at certified speeds. How fast? Up to eight times faster than storing data unencrypted, meaning better security and speed.
The San Diego startup is approaching cybersecurity from a convenience standpoint. One barrier in the industry, thus far, has been that protecting data can mean longer loading times and ultimately less efficiency for workers. As a result, too many have opted out of good security and paid the price for it. So FHOOSH identified these key challenges—slow performance, complex implementation, expense, and encryption gaps—then built software to solve them all.
FHOOSH, which non-coincidentally is an onomatopoeia for speed, secures data by rendering the data useless when breached and removed from the users’ systems, and utilizes both lightweight cloud or localized storage. As a result, it protects data from inception to endpoint without compromising performance or customer experience along the way.
In fact, FHOOSH does more than eliminate the challenges of cybersecurity: it makes it a competitive advantage. According to a recent press release, organizations using FHOOSH “can learn more about securing data from the point of capture at the edge including Internet of Things (IoT) endpoints, through transmission and into storage either on-premises or on a cloud of choice.”
A comprehensive white paper goes into further detail about the benefits and capabilities of software like FHOOSH. Says Eric Tobias, FHOOSH CEO and co-founder, “Securing data isn’t going to get any easier as billions more connected IoT devices, from drones and medical devices to cameras and ‘smart city’ sensors, come online.”
Indeed, as the amount of devices connected to the internet grows, so does the severity of potential cyberattacks. Luckily, FHOOSH promises highly advanced security software in a lightweight package that can protect data from the edge to the cloud. Even better, FHOOSH works seamlessly with both legacy and modern systems, and cuts compliance costs by building in encryption from the get-go.
Companies like FHOOSH will only become more and more essential as technology advances, making funding a necessary step toward a more secure future. Volta Global is excited to provide capital for FHOOSH to accelerate its product development, and we look forward to seeing even more sophisticated protection for the organizations it serves.