Some Very Good News: VGS Raises $60M Series C

December 21, 2020
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It’s been said that necessity is the mother of invention, and that proverb certainly rings true for Very Good Security (VGS). The inspiration for VGS came from a problem my co-founder and I lived first-hand while building a large payments company: we spent nearly a year and $1 million to create the necessary infrastructure and compliance certifications to run our previous fintech business.

Working with sensitive data should not be cost-prohibitive or require a trade-off between security and flexibility. And yet, security, compliance, and privacy requirements remain a significant obstacle for organizations of all sizes. As companies increasingly transition to the cloud, the problem of securing data and configuring their cloud stack is only getting more complicated.

At Very Good Security, we have turned the problem on its head with a new approach. We call this our Zero Data™ mission: the best way to protect sensitive data is not to hold it in the first place.

By acting as a data custodian and enablement platform for our customers, we help them transform sensitive data from a liability into an asset. What began as a modern approach to data security has evolved into a competitive advantage for our customers. VGS customers consistently get to market faster with significantly less overhead than those forced to build infrastructure from scratch. The proof is visible in our amazing customers’ success.

Top-100 banks like Texas Capital Bank (NASDAQ: TCBI) can issue new card programs 6-9 months faster with their processor of choice while also offloading PCI-DSS complexity.

Innovators like Fivestars have built the largest commerce network for local businesses by leveraging VGS to create a magical omnichannel payments and loyalty experience.

Consumer rights pioneer DoNotPay uses VGS to empower consumers while keeping their most important personal data private and secure.

VGS is privileged to serve customers ranging from the Fortune 100 to many of the world’s most innovative new companies, including Brex, Deserve, Fast, HM Bradley, Mercury, Unit Finance and many more.

Over the past year, VGS has more than doubled the number of customers we serve. Our data under management has grown by more than 1,000%, and we helped facilitate the secure exchange of billions of pieces of sensitive information. We feel a great responsibility to our customers, and our goal has always been to build a strong, self-sustaining, independent organization.

Funding Investor Logos

VGS is delighted to announce that we have raised $60M in Series C financing led by Vertex Ventures US with participation from existing investors Andreessen Horowitz (a16z) and Goldman Sachs Growth (GS Growth). Vertex US has partnered with VGS since our seed round, and we are grateful for their continued support of our vision. This funding will help VGS thoughtfully accelerate our growth and continue to deliver on our promise to our customers as we build for the long-term.

Of course, we cannot do it alone. It takes exceptional people to create Very Good Security, and we are fortunate to work with an incredible team every day. If you’re interested in joining our mission to protect the world’s information, check out our careers page here, or complete our technical puzzle. Don’t see a Goldilocks job description? Drop us a line at recruiting@verygoodsecurity.com and tell us what you can bring to the table.

Mahmoud Mahmoud Abdelkader

CEO at VGS

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