Covertix Raises $1 Million, Helps Companies Secure Sensitive Data

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Venture Funds Raised 14 Percent Less In 2010

Covertix, an Israeli startup that provides enterprise-grade solutions for protecting and monitoring sensitive corporate data, has raised $1 million in early-stage funding. The round was led by Kima Ventures, the investment firm founded by well-known European entrepreneurs Jeremie Berrebi and Xavier Niel.

Covertix says the capital will be used to try and gain market share across the European market, expand sales and marketing activities and product development.

Covertix offers independent file-level surveillance and control. The company’s flagship product, SmartCipher, helps companies protect confidential and sensitive data wherever it goes – both inside and outside the organization even when used by third parties, stolen or lost.

In this day and age, an offering that should be compelling for many a company.

Covertix is backed by Kima Ventures, The Office of the Chief Scientist of Israel, Maayan Ventures and accredited angel investors.

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