Vaultive, a provider of cloud data encryption solutions that enable organizations to leverage the economy and efficiency of cloud computing while maintaining the data security, control and compliance advantages of on-premise computing, today announced that the company has completed a $10-million funding round led by .406 Ventures, New Science Ventures and Harmony Partners. The company is currently in beta for its first product, Vaultive for Hosted Exchange, a patent-pending enterprise-class encryption solution designed to meet the specific business challenges and technological requirements of Hosted Exchange users.

Vaultive was founded in 2009 by Ben Matzkel and Maayan Tal. Initially funded by security industry luminaries, including brothers Elad and Amit Yoran, the company has been focused on research and development efforts to build an enterprise-class, seamless and flexible solution for cloud data protection.

Today, Vaultive is led by an experienced management team with a successful track record of bringing leading-edge security solutions to market. Following the $10-million funding round, Elad Yoran becomes Vaultive's Chairman and CEO. Yoran, a long-time security industry leader, also serves as general partner of Security Growth Partners.

Previously, Yoran founded and led several successful security start-ups including Riptech, MediaSentry, and Sentrigo, which were acquired by Symantec, SafeNet, and McAfee respectively. He also served as vice president, Global Business Development, at Symantec and as vice president and head of the security industry M&A team at Broadview, now a part of Jeffries. In addition, Yoran is currently an advisor to the FBI and other US Federal Government organizations. Yoran joins an exceptional team, led by Matzkel and Tal, with extensive backgrounds in cryptography, information security, and a world-class engineering team with experience from security industry leaders such as McAfee, Cisco and Check Point. Co-Founder and Chief Strategy Officer Ben Matzkel is a prior McAfee senior product manager and previously led Onigma's Professional Services team. Co-Founder and Chief Technology Officer Maayan Tal formerly headed the R&D team in Israel for McAfee and served as a manager on Onigma's R&D team. Both Matzkel and Tal are veterans of leading technology units in the Israel Defense Forces.

Maria Cirino of .406 Ventures, former senior vice president of Verisign and CEO of Guardent, and Somu Subramaniam of New Science Ventures and a former leader of McKinsey's Technology Practice join Vaultive's Board of Directors. Vaultive also boasts a deep IP portfolio with five patents currently pending.

"Security remains the primary barrier to widespread cloud adoption. Migrating data to a cloud environment introduces significant security, regulatory compliance, data residency and privacy risks that must be addressed," said Elad Yoran, CEO of Vaultive. "Vaultive was created to solve these problems by enabling organizations to maintain complete control over and extend security to their data in the cloud."

The company's core technology enables encrypted data to be searched, indexed, sorted and otherwise processed within a cloud-based application without first having to be decrypted. This breakthrough patent-pending technology can be applied to a broad spectrum of cloud applications without compromising functionality, performance, or changing the end-user experience.

Its first enterprise-class application of the technology, Vaultive for Hosted Exchange, introduces the only solution developed specifically for Hosted Exchange environments, including Microsoft Office 365, that delivers this type of searchable, sort-able and index-able encryption.