06 Dec 2017 ZIVVER, the innovative solution against data leaks, gets investment of 3 million from henQ and existing investors
Dutch start-up ZIVVER has received commitment for an investment of 3 million euro from venture capital investor henQ and existing investors. ZIVVER’s software allows organisations and private individuals to email, chat and share (very large) files in a secure environment.
The company helps people become aware of the risks related to sensitive information and helps prevent data leaks. It provides its users with active support by giving targeted warnings and employing simple security measures. “Most data leaks are caused by human error. That’s why ZIVVER warns users even before they hit the send button”, says ZIVVER CEO Rick Goud. “It’s a unique, but mostly a necessary solution in these times of cyber crime and stricter rules regarding data leaks.”
The Dutch Personal Data Protection Act was tightened in 2016, making it mandatory for organisations to report data leaks. In 2016, organisations reported approximately six thousand leaks to the Dutch Data Protection Authority, which translates to roughly twenty leaks per day. And this number is probably just the tip of the iceberg.
A single data leak can involve the details of thousands of people. As almost 40% of all data leaks originate from healthcare organisations and the public sector, this includes medical and other sensitive data such as Citizen Service Numbers. More stringent privacy legislation will be introduced throughout the European Union starting in May 2018, which will see fines for the failure to protect personal data increase to up to 4% of company revenue. Add to this the damage to the company’s reputation and repair costs, and the impact of a data leak becomes abundantly clear.
Organisations, including many in the healthcare sector, currently use regular email servers, free chat services and online file transfer services on a massive scale. Although these might be easy to use, they are not secure. “Data leaks are a substantial threat for organisations working with sensitive data. ZIVVER provides a secure alternative that is driven by user-friendliness. This focus, coupled with a growing awareness in healthcare and the public sector, means that this company could well grow out to become the prime supplier of secure communication”, says Jan Andriessen, Associate Partner at henQ.
ZIVVER will use the investment to further optimise their Software-as-a-Service (SAAS) solution. Their primary goal is to expand their client base in hospital care, geriatric care, primary healthcare, mental healthcare and the social domains of Dutch municipalities. The company is also scoping out opportunities for further growth in Europe and is investigating new markets, such as the financial services industry.
In just two years’ time, the start-up has grown considerably thanks to earlier investments from angel investors in the healthcare sector. Their team now consists of over twenty professionals, and has managed to bring in dozens of clients, including GGZ Rivierduinen, St. Jans Gasthuis hospital and the Gooise Meren municipality. Goud: “Working with henQ allows our team to continue to work hard in order to become market leader.”