Backed by Ukrainian programmers, US startup Very Good Security raises $60 million in Series C round

On December 21 Very Good Security (VGS) a San Francisco startup with substantial activity in Ukraine, raised $60 million in a funding round led by Vertex Ventures US, one of the company’s earliest investors. Other existing investors, including Goldman Sachs (GS Growth) and Andreessen Horowitz (a16z), also took part in this Series C round, Fortune reported.

Including the latest injection, VGS has raised a total of $105 million to date, according to CrunchBase data, not including an undisclosed amount from Visa Ventures.

VGS touts itself as “the world’s most secure and compliant solution to collect, protect and exchange sensitive data.” It will use the new funding to accelerate its growth, as its customers multiplied by 2.5 and its volume of data by 10 in the course of 2020. 

The company is also developing new capabilities to further automate certification processes, aiming to make compliance control even easier to customers.

Founded in 2016, the startup has established its headquarters in San Francisco. Its team consists of more than 180 people, with more than half of that staff working from offices in Kyiv and Lviv, Ukraine.

Topics: Cybersecurity, Finance, International, Kyiv, Lviv, News, Regions, Venture/Private equity
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