ALTR, a Cybersecurity Platform Built on Blockchain Technology, Launches in Austin with $15 Million in Funding

ALTR, an Austin-based cybersecurity platform built with blockchain technology, officially launched in Austin on Wednesday.

The company, which has been in stealth mode for four years, released its first commercial software package to provide secure data access and storage on its ALTR platform.

ALTR has raised $15 million in funding from institutional and private investors in the cybersecurity, information technology and financial services industries. It also includes participation by angel investor John Stafford III, current CEO of Ronin Capital. ALTR plans to use the money on marketing and sales and to develop other products.

David Sikora, a software industry veteran and former executive chairman at Stratfor, a global research, and intelligence platform, is the CEO of ALTR.

“Sikora is noted for executing the first internet software IPO in Texas with The ForeFront Group, and previously served in key leadership roles at Digby, Motive and Pervasive Software,” according to a news release.

ALTR’s board of advisors includes Mike Maples Sr., a former software executive at IBM and Microsoft, Fred Burton, former deputy chief of the counterterrorism division at the U.S. Diplomatic Security Service and Michael Hermus, a software entrepreneur and emerging technology expert who recently served as CTO of the U.S. Department of Homeland Security. It also includes John Swainson, former Dell executive and past CEO at CA and Scott Abel, co-founder of Spiceworks.

“Network-focused security isn’t enough because it never really puts a dent in the sheer number of vulnerabilities,” Sikora said in a news statement. “Rather than patching the existing attack surface, ALTR has found a way to significantly reduce it. In fact, with ALTR’s full solution in place, the threat vectors for data move to nearly zero. Digital trust can finally be restored.”

ALTR’s platform consists of an ALTR monitor, ALTR govern and ALTR protect. It integrates into existing computer networks and supports Microsoft, Oracle and open-source database platforms. ALTR has 12 patents and more than 30 pending.

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