# Myota

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/myota

- Industry: Software
- Headquarters: Blue Bell, US
- Website: www.myota.io
- Total disclosed funding: $5.8M
- Latest round: Series A (May 28, 2021)
- Investors on record: 1

## About

Myota, Inc., based in Pennsylvania, specializes in innovative data security solutions aimed at ransomware prevention, enhancing data protection for organizations through its proprietary technology.Founded in 2017 by Jaeyoon Chung and Sam Koury, Myota, Inc. is headquartered in Blue Bell, Pennsylvania, US. The company focuses on offering advanced data security technologies, having successfully raised USD 5.8 mn in Series A funding led by PACA Ventures on May 28, 2021. This funding marks their only known investment round to date, bringing their total amount raised to USD 5.8 mn.Myota specializes in data security and ransomware prevention through its core offering, the Shard & Spread™ technology. This platform employs shard-based replication to reduce storage costs by 50% while enhancing data security. The technology creates secure, unusable shards of data—termed 'digital sand'—that are smaller compared to the original data. Myota's solutions address critical organizational pain points such as ransomware attacks and data loss, ensuring rapid recovery. Their primary clientele includes businesses across North America, Europe, and Asia, ranging from technology firms to financial institutions, all of which benefit from the platform's robust security features.Myota generates revenue primarily through subscription-based models for its data security solutions, providing clients with flexible plans tailored to their specific storage and security requirements. These transactions include tiered pricing structures for different service levels, allowing scalability according to client needs. The Shard & Spread™ technology is central to these engagements, facilitating effective data management while ensuring protection against cyber threats. Myota's B2B business model fosters long-term partnerships with organizations focused on data security and compliance, promoting sustained revenue streams and client retention.Following the recent Series A funding of USD 5.8 mn in May 2021, Myota, Inc. plans to utilize these resources to scale its enterprise information protection software-as-a-service (SaaS) platform. The company is focused on expanding its market presence by targeting additional sectors and geographic regions, including Europe and Asia, with plans to execute these initiatives within the next 12 to 18 months. Myota aims to enhance its product offerings and introduce new features to better serve its clients, ensuring robust data security solutions are readily available to meet evolving industry demands.

## Funding rounds

- Series A, May 28, 2021, $5.8M — PACA Ventures

## Investors

- PACA Ventures (https://capitalatlas.ai/funds/paca-ventures) — Series A