Vawlt Receives €2.15 Million in New Funding

Vawlt Technologies S.A., the start-up in the global long-term storage market, closed an additional €2.15 million round of funding. 

It secured a total of 3 new investors, with Lince Capital as the round leader, and Basinghall and Beta Capital listing as the other two 2 joiners. This latest funding round also includes participation from Vawlt’s existing investors Armilar Venture Partners and Shilling VC, as well as further investment from 2 former Cisco and OVHcloud executives.

Ricardo Mendes, CEO, said: “We’re thrilled with this news. It is a testament to our commitment to enhance data protection and sovereignty as well as business efficiency and independence. In the current world this is increasingly of key importance. This injection of capital will not only propel us into new markets and reinforce our support for channel partners, it will also fuel the continuous innovation of our product to provide our customers with exactly what they need.“

Since its last round of funding in 2021, the start-up has made advances in technology to support businesses as they transition to the cloud. This round brings the total funding to date to €3 million.

The Portuguese company will use the new funding to continue executing and expanding its product innovation strategy as it makes supercloud storage real for its customers, and intensifies the support for the global Channel Partner Network. It is also expanding its team, and is looking to secure the best of the best for positions ranging from business development to roles within the product team.

Founded in 2018, it defines a new standard for reliability, security and resilience, and serves as a leading enabler for solid, long-term storage strategies that support cross-sector business agility, unmatched in today’s market.

What is Vawlt’s supercloud solution?
Distributed Storage, Data-Centric Architecture and Improved Data Security are at the heart of firm’s solution. Data is distributed in multiple clouds or on-premises nodes, simultaneously, creating a supercloud that enables companies to take advantage of the multiple storage environments through a single pane of glass: easy to use, secure and resilient by default. All users’ data is always available: even if some of the clouds are down, if they lose or corrupt the data, and also in case of a ransomware attack. 

Only the data owner has access to file contents, and all the data is encrypted at the client side. Data never goes through Vawlt’s servers. It travels directly between the users’ machines and the storage clouds. Some of the techniques used by the firm include erasure coding and Byzantine-quorum systems for both dependability and cost-effectiveness. 

Vasco Pereira Coutinho, CEO, Lince Capital, said: “It’s with great excitement that we announce our most recent investment in Vawlt. In an era of increasing concerns with data security and privacy, Vawlt’s highly skilled team was able to materialize almost a decade of research into a leading product in the supercloud environment, positioning the company at the forefront of the future of cloud storage. In fact, the latest evolution to Vawlt 3.0 brings an even more robust and scalable product, which not only increases the value creation from distributors and partners, but also brings us an even more reliable and cost-efficient distributed cloud storage solution.”

Vawlt’s Dynamic Storage platform enables channel partners to tailor and optimise storage offers to their customers’ respective needs and most common use-cases. In today’s world, simplifying data movement and security over hybrid and multi-cloud environments is critical to enterprise IT.

Andrew Irvine, founding partner, Basinghall, said: “Our choice to invest in Vawlt is based on the team’s extensive technical expertise, enabling the company to offer a secure, innovative distributed supercloud storage solution. Vawlt allows its users to efficiently migrate their data to, or within a multi-cloud environment. It enables its customers to significantly accelerate their digitization process, hence aligning well with our investment thesis. We are excited to support their continued growth.” 

Roberto Branco, CEO, Beta Capital, said: “Vawlt brings data-science R&D into the market with a product that shows great potential. Vawlt helps companies to keep their data safe, while fully controlling their cost. We are excited to be on board.” 

Vawlt’s existing investors share the enthusiasm for the unique solution. Pedro Ramalho Carlos, partner, Shilling VC, remarked: “We believe that Vawlt has solved a very complex problem by building a very efficient, scalable, and easy-to-use solution. It provides a scalable tool for technology integrators to take advantage of hybrid technologies in a supercloud distributed storage environment to satisfy their customers’ requirements.”

While João Dias from Armilar Venture Partners, added: “Nowadays, storage is a highly heterogeneous environment. Vawlt has all that potential by seamlessly combining cost-effective storage solutions, wrapped with new ransomware security protocols, abstracting companies and systems from the complexity of the underlying storage nodes.“