The latest news: Strac, a software-based startup that is building technology that connects to the website of a company or its mobile application to safeguard sensitive customer information, has received $3.5 million.
Its team members: The Bellevue, Wash.-based company was founded around 2021 Aatish Mandelecha who was a former chief engineer at Amazon which he worked for for 11 years helping to build its payment infrastructure. The founders of the company, Hans Hermans and Peter Hu, also worked at Amazon. Strac is part of Y Combinator’s winter 2022 class and employs less than 10 people.
The technology: Once a company adds Strac into its Slack channel or email account or Slack channel will track and remove potentially sensitive information on the platform, and then lock it in a secure vault, Mandelecha explained to Business Headers through an email. Mandelecha added that the technology will also offer analytics on how the sensitive data is being utilized in everyday workflows. Strac stands out against similar redaction services for data offered by Google, Amazon, and smaller businesses.
The investors: Seattle venture firm FUSE was the leader of the round which included involvement from Y Combinator, Liquid 2 Ventures, Wayfinder Ventures, Rogue Capital, Unshackled, as well as other industry angels.