| Website | guardtime.com |
| @guardtime | |
| Category | Software |
| Phone | +1 650 336 5119 |
| Employees | 16 |
| Founded | 5/06 |
| Description | Smart Data |
| TOTAL | $8M |
| VENTURE FUNDING TOTAL | $8M |
| Series A, 4/10 FIT-One Holdings Infocomm Investments Ambient Sound Investments Horizons Ventures | $8M |
In 2007 a team of Estonian cryptographers, computer scientists, network architects and software developers was established to address a previously intractable problem in technology, namely the unreliability of electronic data.
Electronically stored information is possibly the most important asset an organization has, yet for 40 years we have lived with the assumption that anything electronic is inherently unreliable, that is can be easily faked or modified without leaving a trace. We address the symptoms of this unreliability by securing perimeters around the data and relying on trusted insiders to manage access. Yet over 50% of fraud is conducted by insiders who modify data and hide their tracks. This static “protect the perimeter†model was designed for a previous century and fails completely in a dynamic world of cloud computing.
The Estonian team was tasked to solve the problem at the most fundamental level – design and implement a mathematical algorithm that can prove the integrity of electronic data without reliance on trust authorities, dedicated hardware or any human being. By implementing the algorithm using distributed software agents running on virtual machines it is possible to deliver proof at an unimaginable scale and cost reduction, finally delivering a practical solution that makes electronic data at least as reliable as paper.
GuardTime was founded to commercialize the technology and in 2010 the company raised venture capital to help finance its growth. The company is now operating around the world and has partners including hardware manufacturers, cloud operators, Governments, telecommunication operators, system integrators and industry regulators.
