The AI-powered platform provides visibility
and control over files in high-risk data sources, helping
enterprises proactively identify risks associated with sensitive
data.
MONTREAL, April 24,
2024 /CNW/ - Qohash today announced a
$17.4 million Series B investment led
by Fonds de solidarité FTQ, with participation from Export
Development Canada (EDC) and existing investor Desjardins
Capital.
Since the last round of funding, Qohash has achieved significant
traction within the financial services, public sector, and high
technology sectors. Security teams in these industries are
demanding effective and easy-to-deploy solutions to manage
high-risk files and monitor their circulation within the
organization. Qohash's Qostodian platform can be deployed rapidly,
providing immediate visibility and control over the riskiest data
sources.
The platform's AI-driven features are tailored to each
customer's unique risk landscape and business rules, automating
responses and providing actionable recommendations. This simplifies
security operations and reduces the need for extensive manpower. As
a result, Qohash's solutions are more efficient and customized to
meet specific security needs.
"Our clients value our targeted approach that yields tangible
risk reduction, avoiding superficial coverage and vanity metrics.
The latest funding accelerates our investment in targeted AI
capabilities, enhancing our platform to provide more precise and
actionable insights for our customers," said Jean Le Bouthillier, co-founder and CEO of
Qohash.
With the additional capital from this funding round, Qohash will
not only accelerate the development of its platform but also its
growth in key sectors where the protection of sensitive data is
non-negotiable. This strategic expansion allows the company to meet
the urgent security needs of industries where data security is
critical.
"In today's fast-paced digital market, Qohash stands out by
quickly delivering cutting-edge technologies, such as generative
AI, to ensure the cybersecurity of companies here and abroad,"
explains Dany Pelletier, Executive
Vice President of Private Equity and Impact Investing at the Fonds
de solidarité FTQ. "The Fonds is proud to invest in a company that
rapidly adapts to new technologies and develops its expertise,
benefiting the data security of businesses and the public,"
concludes Mr. Pelletier.
"It is essential to equip and support organizations with
cutting-edge technologies to secure their sensitive data. That's
why Desjardins Capital is proud to reinvest in Qohash to expand its
innovative cybersecurity solutions to medium and large
international companies," says Nathalie
Bernard, Chief Operating Officer at Desjardins Capital.
About Qohash
Qohash is a leader in data security software development,
delivering innovative and user-friendly security technologies that
provide businesses with visibility and control over their sensitive
data. Since its founding in 2018, Qohash has rapidly scaled its
operations to offer solutions that empower organizations to
maintain continuous oversight of their security posture. Currently
available in the U.S. and Canada,
Qohash's mission is to protect the world's most sensitive data. For
more information, visit qohash.com or our company page on
LinkedIn.
About Fonds FTQ
A source of pride for Quebecers, the Fonds de solidarité FTQ
fulfills its mission thanks to a unique business model created 40
years ago. Since its inception, the Fonds has rallied Quebecers,
collecting and channeling the retirement savings of its 765,721
shareholders-savers into investments that help drive the Québec
economy.
With net assets of $18.4 billion
as at May 31, 2023, the Fonds
supports more than 3,700 companies through venture and development
capital investments underpinned by the conviction that impact is
created as much by financial as social returns. For more
information, visit fondsftq.com or our company page on
LinkedIn.
About Desjardins Capital
Backed by 50 years' expertise, Desjardins Capital's mission to
contribute to the prosperity of individuals and communities by
investing in the growth of Quebec
businesses. With assets under management of $3 billion as of December
31, 2023, Desjardins Capital contributes to the longevity of
nearly 760 companies, cooperatives and funds in various sectors of
activity from all regions of the province. In addition to
contributing to socio-economic development, productivity and the
adoption of sustainable practices, this subsidiary of Desjardins
Group offers entrepreneurs access to a broad business network,
enabling them to be accompanied and supported in their
projects.
SOURCE Desjardins Group