London-based cybersecurity startup Klarytee, which provides businesses with encryption tools for sensitive data, has raised £700,000 in pre-seed funding.
Founded in 2021, Klarytee has built a software platform to keep companies’ data encrypted but still readily accessible to those who need it.
Founder Dr Nithin Thomas said the inspiration for the company came from his view that security systems often hamper productivity by unnecessarily restricting access to data for authorised individuals.
“Data has become the most valuable asset a company owns, but evolving workplace habits that require greater collaboration and sharing of data are putting enormous pressures on enterprise security,” said Thomas.
“Imagine being able to receive your banking password via WhatsApp or X without having to worry about compliance or security issues.”
In a move that capitalises on advancements in AI technology, Klarytee has integrated a large language model (LLM) into its platform that scans for sensitive information and applies protection to the appropriate data.
The startup has also partnered with Microsoft, which has allowed its software to be incorporated into Word as an add-on that can encrypt, authenticate and decrypt documents.
The funding came from Concept Ventures alongside a handful of angel investors including former Twitter chief information security officer Michael Coates, former Bupa group CEO Evelyn Bourke and ex-managing director of Accenture Brad Cable.
“Klarytee is an essential tool in a CISO’s armoury as organisations move to a more data-centric security model that focuses on protecting their data over infrastructure beyond the enterprise boundaries,” said Coates.
“Klarytee’s vision to simplify and consolidate the enterprise security stack by focusing on data instead of infrastructure is incredibly powerful.”