BMW i Ventures, BMW’s 500 million Euro venture capital fund announced today yet another strategic investment. This time the fund chose Vera, a company developing innovative data-centric security technology for business of all sizes. This move hints at the priorities in Munich after a series of tests performed on the infotainment systems of various manufacturers showed that customer data might be too easily accessed by third parties.
Since the company’s founding, Vera has helped some of the world’s leading companies protect their most critical data, without sacrificing visibility and control. Over the past year, Vera has been focused on scaling its data security platform to protect both email and enterprise content with dynamic encryption and and granular control. The company recently introduced its Vera for Mail offering and browser-based editing capabilities, enhancing users’ ability to access and collaborate on secure files across devices and operations systems.
The new capital will help broadly to fuel Vera’s next phase of growth and scale its workforce globally. “From documents to CAD files, photos to emails, data moves more freely than ever, and Vera’s leading technology allows people and organizations to share all kinds of information, safely,” said Zach Barasz, Partner at BMW i Ventures. “We believe that Vera is at an important inflection point in its growth curve and with the recent appointment of Carlos Delatorre as CEO, we’re excited to join the journey.”
The Munich-based manufacturer said multiple times that, as the amount of data transferred between cars and servers grows, so will the attention gained from hackers, who can use it to their advantage. Security data remains a top priority in Munich and this move confirms it once again. The project that will be spawned in the future thanks to this new investment in Vera remain to be seen and they may never be advertised as such but most likely will just work in the background without us even knowing.
