Startup finds security niche in cloud storage
Mar 13, 2013 (Boston Herald - McClatchy-Tribune Information Services via COMTEX) --
The surging popularity of the iPad put pressure on companies to allow employees to use their own devices to access confidential corporate data.
Then along came Dropbox, a free service that lets people bring their photos, documents and videos anywhere and share them easily.
There was only one problem.
"There were all sorts of data security risks around privacy and compliance," said entrepreneur Nicholas Stamos. "The fear was, 'Oh my god, some employee leaves his laptop on the train, or he leaves it on his desk at home where his child starts to play with it.' That's when I realized there was a market for something."
The "something" turned out to be nCrypted Cloud, the Boston company Stamos and Igor Odnovorov founded last July, building on patent-pending technology to develop encryption software that protects the privacy of personal and corporate data residing in the public cloud.
The startup allows users to share data securely and collaborate with anyone, across security domains, without limiting the content-creator's control over who can access the data.
"It's very clear businesses and consumers needed a solution to ensure their data is secure in cloud services like Dropbox," said Dan Scheinman, an angel investor. "NCrypted Cloud has created something which is friendly to me both as a consumer and as a business."
The company expects to release its product commercially next month, Stamos said. The consumer version is free, while businesses pay between $5 and $10 per employee per month.
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