SAN FRANCISCO--(BUSINESS WIRE)--Very Good Security (VGS), the modern standard for digital data security, compliance, and custodianship, today announced the company surpassed 500 million sensitive data transactions per month processed on the VGS platform, representing 1000% growth year over year and capping off a banner year for the company.
After closing out 2020 with a $60 million Series C, VGS reached several key milestones this year, including recognition as a Forbes Next Billion-Dollar Startup, doubling revenue and headcount, launching several pivotal products, acceptance into the AWS ISV Accelerate Program, and expanding its executive bench with the hires of Paul Machle (CFO), Matt Amundson (CMO), Reena Choudhry (CRO), and Chandar Venkataraman (CPO).
Notably, in fall 2021 VGS launched VGS Payment Optimization, a product suite to optimize payment acceptance, approvals, and costs in any payments ecosystem. Built on top of the secure VGS Vault, the suite includes Payment Orchestration, Card Account Lifecycle Management (CALM), and Universal Checkout features and allows businesses to customize their payments ecosystem across multiple gateways, payment service providers (PSPs), and third party APIs from a single platform.
“Reaching over half a billion data transactions per month processed on the VGS platform is a major milestone, as some of the world’s most innovative companies, Fortune 500 banks, and household names rely on VGS to help secure their sensitive data,” said Mahmoud Abdelkader, CEO & co-founder of VGS. “We’re excited to bring our Zero Data™ approach to more businesses, enabling them to achieve crucial business outcomes without ever having to come in contact with sensitive data. It's an entirely new approach to security — removing the data altogether.”
“Since we first partnered with VGS in 2016, we’ve watched them build on the simple idea that businesses should be able to operate with sensitive data without compromising privacy,” said Jonathan Heiliger, GP at Vertex Ventures US. “This year, we’ve seen them continue to build momentum. They’ve hired key leaders and are shipping products their customers love. There’s a strong ROI for its Zero Data™ approach so it’s no wonder why companies around the world rely on VGS to store, enhance and exchange their massive amounts of payment data.”
Based on the company’s Zero Data™ approach, VGS offers services like card issuing, payments optimization, tokenization, and more to customers like DoorDash, Brex, Texas Capital Bank and Even, among others. To learn more about VGS services, visit verygoodsecurity.com.
About Very Good Security
Very Good Security (VGS) is on a mission to secure the world’s sensitive information. Providing a data security and compliance platform, VGS enables startups and enterprises to focus on their core business instead of compliance and regulatory overhead. VGS customers enjoy a Zero Data™ approach to data security, retaining the value of sensitive data without the cost and liability of securing it themselves. For more information, visit verygoodsecurity.com.
