HeraSoft raises $5m to support growth of its ransomware protection software

HeraSoft, which safeguards companies from ransomware, has closed its Series A round on $5m, which was led by United Capital Management.

The company provides organisations with ransomware-proof solutions that eliminates single points of failure that make cloud-based software systems vulnerable to cyberattacks.

Its technology can work as a stand-alone solution or can be layered on to enhance the existing software’s security.

HeraSoft CEO Anthem Blanchard said, “In light of more employees working from home because of the coronavirus and more data stored online than ever before, investment in cyber security will be a top priority for executives across industry verticals this year.

“With the completion of our Series A raise, we look forward to supporting businesses and government organizations in protecting their systems against increasingly frequent and sophisticated cyberattacks.”

Late last year, the U.S. Department of the Treasury’s Office of Terrorism and Financial Intelligence warned US individuals and businesses that the number of ransomware attacks had increased.

The rising threats have encouraged more companies to seek cyber insurance policies, with around 80% of companies adding it to their protection, according to a new study.

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