Maxfield Capital, a venture fund operating globally from its offices in Moscow, New York City and Tel Aviv, has led a funding round of “more than $5 million” in nCrypted Cloud, a Boston-based online security service for cloud data storage. A pool of business angels from companies including Microsoft, Cisco, Reveal Imaging and Broadcom has also participated in the round.
In addition to encrypting data stored in Dropbox, Google Drive, OneDrive Box and other popular cloud storage providers, nCrypted Cloud also allows data owners to monitor and control who has access. A record is kept of all requests to view files, and it is also possible to restrict outside users to limited access.
The service works as an add-on to existing cloud solutions, so encryption takes place on the client’s device before it is uploaded to the cloud. Data can be accessed away from the office using nCrypted Cloud’s Android and iOS mobile platforms. Users can opt for a free service for personal storage or a paid service for enterprise package.
The company, founded by security expert Igor Odnorov and serial entrepreneur Nikolas Stamos, does not reveal its total number of clients, but it has registered more than 100 million ‘events’ and encrypted more than 10 million files.
Maxfield Capital launched last year with Russian businessman Viktor Vekselberg – the owner the Renova Group and the President of the Skolkovo Foundation – as its main LP. The fund is managed by former Skolkovo IT cluster director Alexander Turkot, along with Oleg Koujikov and Alexander Lazarev – three high tech professionals with strong background in Silicon Valley, Israel, and Russia.
The fund’s first investments went essentially to international companies at various stages based in the USA, Israel and Russia.
