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Fortanix Raises $23M Series B Led by Intel

January 30, 2019 / Jessica Lyons Hardcastle

Security startup Fortanix closed a $23 million Series B led by Intel Capital. The investment brings the company’s total funding to $31 million. Existing investors Foundation Capital and Neotribe also contributed.The company will use the new round to expand its sales team globally and further develop its key management and encryption technologies, said Ambuj Kumar, co-founder and CEO of Fortanix. It also strengthens the startup’s partnership and work with Intel — Fortanix’s software runs on Intel hardware.“Our mission is to solve cloud security and data privacy,” Kumar said. “We joke that our goal is to have the CIA run sensitive applications in China on Ali Cloud,” using Fortanix security software.