The Ecuadorian startup Kriptos announced that they raised $3.1M in a funding round which was led by Act One Ventures. Other participants in the round were Compu Soluciones Ventures, BuenTrip Ventures, SVLA Venture Capital, and more.
The company was founded in Ecuador in 2018, and it uses Artificial Intelligence to provide companies a way to automate the classification and identification of sensitive information. Their goal is to help companies avoid the leakage of sensitive information, allow them to make better decisions and optimize future investments.
Kriptos now operates from Mexico and has 30 clients throughout the US, Chile, Peru, Ecuador and Argentina. 80,000 people already use Kriptos’ solution, and in four years the startup has classified more than 160 million documents.
The startup has previously raised two rounds, and in total Kriptos received $4.9M in investments.
According to the company, the new funds will be invested in cybersecurity technology and to continue to support companies in preventing information leakage. Also, they are planning to further expand in the US and in Latin America. According to Christian Torres, Kriptos’ co-founder and CEO:
“This third round is to scale, to reach a more advanced level, where we are already talking about areas such as customer operations, pre-sales, marketing… We are starting to build something more sophisticated and we have a base to continue growing.”
The Ecuadorian startup Kriptos’ goal is to reach the 250 employees number by 2025, and by 2030 they want to become a leading global solution in data classification and analysis technologies.