Dyadic Security raises $12 million to virtualize cryptographic keys

Dyadic Security, which provides cloud-based security software, announced today new funding of $12 million. The startup helps businesses encrypt and decrypt data with virtual cryptographic keys rather than dedicated hardware.
“A cryptographic key is a digital string of bits,” Avner Mor, CEO and cofounder of Dyadic Security, wrote in an email to VentureBeat. “This string of bits is extremely sensitive, as it allows encrypted data to be transformed into plain data and vice versa.