Two years ago, we learned about CloudCover when they signaled intentions of raising $20m for their real-time cloud data insurance product.
While the outcome of their earlier initiative remains unknown (the company declined to comment publicly), it’s clear that they are still moving forward, given they recently raised $3.14m of a new $7m target equity round.
“We are a new risk management entity within the insuring and security technology industry. CloudCover is a revolutionary risk solution to proactively mitigate online exposure at the incremental data level as online business is transmitted and stored. Today, after many years of research and development, the founders of CloudCover have identified the only viable, practical method providing real-time data risk mitigation and liability protection for the transmission and storage of data.”