San Francisco based data privacy platform raised a $35m Series B led by Goldman Sachs.
Very Good Security (VGS), a data privacy platform that helps financial and healthcare service providers and others protect their customers’ data, has raised $35 million in a series B round of funding led by Goldman Sachs’ merchant banking division, with participation from Andreessen Horowitz and Vertex Ventures, among other existing investors. VGS is built on the notion that most companies don’t actually want to store people’s private data. They don’t want to keep social security numbers (SSNs) or bank card details on file — but they have to if they want to check up on customers’ credit history or collect money for a monthly subscription. This is where VGS comes into play, providing a “developer-friendly” platform so businesses can offload sensitive data. VGS bills itself as a third-party custodian that specializes in protecting data and ensuring regulatory compliance.