Very Good Security (VGS) has raised $60 million in Series C funding led by Vertex Ventures US with participation from existing investors, including Andreessen Horowitz (a16z) and Goldman Sachs Growth (GS Growth).
VGS processes billions of records of sensitive data, and its data under management has grown more than 10x year-on-year. Companies ranging from the Fortune 100 to innovators like Brex, Deserve, DoNotPay, Fast, and Mercury use VGS’ platform to build features instead of compliance overhead.
Mahmoud Abdelkader, CEO and co-founder of Very Good Security, said: “Our customers can do more with their data and consistently get to market faster than those who are forced to do the heavy lifting of building and maintaining compliant infrastructure themselves.”
VGS has become a layer on top of cloud services to facilitate the secure exchange of sensitive data. For example, banking-as-a-service platform Unit Finance uses VGS to expedite connectivity to payments networks while offloading PCI-DSS complexity.
Fivestars leveraged VGS to build the largest commerce network for local businesses, delivering magical omni-channel loyalty and payments experiences.