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Vaultive, which encrypts data before its gets stored in the cloud, just announced a second round of funding for $10 million.

Many companies are still hesitant about using cloud services due to security concerns. Vaultive wants to calm those fears by encrypting data before it goes to a cloud server.

Vaultive’s product is Vaultive for Hosted Exchange, which was created specifically for host exhanges such as Microsoft Office 365 and Microsoft Exchange 2010. All data sent to a cloud service is encrypted before it leaves a company’s network or workstations. With Vaultive for Hosted Exchange, encrypted data can also be indexed, sorted, and processed by a cloud service without the need to decrypt it. Vaultive’s security measures help companies comply with strict privacy regulations such as the Health Insurance Portability and Accountability Act (HIPAA) while using cloud services.

Vaultive faces competiton from CipherCloud, which also encrypts data before it reaches cloud services. CipherCloud currently works with Salesforce and Google Apps.

The new funding comes from .406 VenturesNew Science Ventures and Harmony Partners. The company was founded in 2008 and was previously in stealth mode.

The company will use the new influx of money to grow its New York office, adding to its sales, marketing, and technical teams.

In addition to its New York presence, Vaultive has a data center in Tel Aviv, Israel with more than 20 engineers. The company raised a previous round of funding for $1 million in 2009 from Yaron Carni, Fabrice Grinda, and Founder Collective.

Vault image via Shutterstock

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