# Overnest

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

- Industry: Software
- Headquarters: San Jose, US
- Website: www.strongsalt.com
- Total disclosed funding: $7.2M
- Latest round: Seed (Sep 26, 2019)
- Investors on record: 2

## About

Overnest, Inc. is a cybersecurity firm specializing in advanced data security solutions, focused on protecting sensitive information through innovative encryption technologies for various industries.Founded in 2015, Overnest, Inc. operates out of San Jose, US, and provides robust data security solutions. The company underwent a significant transition in February 2022 when it was acquired by SIMBA Chain Inc. from its previous investors, Fusion Fund and Valley Capital Partners. The acquisition aimed to enhance Overnest's capabilities in privacy and secure storage, integrating high-performance data functionalities for improved security in blockchain technologies. Ed Yu, the founder, has a history in the cybersecurity domain, although details of any previous ventures are not provided.StrongSalt specializes in providing advanced data security solutions aimed at protecting sensitive information through innovative encryption technologies. Their flagship product is designed to offer end-to-end encryption, ensuring that data is secure during transmission and storage. This technology benefits industries that handle confidential data, such as finance, healthcare, and legal services. StrongSalt’s client base includes enterprises across North America and Europe, reflecting the rising demand for robust cybersecurity measures. The company's services cater to organizations needing compliance with strict regulatory standards while seamlessly integrating with existing IT infrastructures.StrongSalt generates revenue through a subscription-based model, allowing clients to access their suite of security products and services on a recurring basis. This transactional structure facilitates long-term relationships with clients, as businesses can choose from various subscription tiers based on their security needs and operational scale. The pricing strategy accommodates both small businesses and large enterprises, ensuring each client can find a suitable plan that aligns with their budget. Additionally, StrongSalt may engage in partnerships with technology distributors, enhancing their market reach through a B2B channel.The acquisition of Overnest, Inc. by SIMBA Chain Inc. on February 15, 2022, is a strategic move to position itself as a key player connecting Web3 with Web2 businesses. The integration aims to scale Overnest's privacy and secure storage offerings while enhancing the data functionalities for its customer base. Future plans likely involve launching new products designed to improve data encryption and security for blockchain applications, although specific product release dates have not been disclosed. The recent funding from the acquisition will be utilized to support these initiatives, marking a significant step forward in the company's growth strategy.

## Funding rounds

- Seed, Sep 26, 2019, $3M — Valley Capital Partners
- Seed, Jul 17, 2019, $4.2M — Fusion Fund

## Investors

- Fusion Fund (https://capitalatlas.ai/funds/fusion-fund) — Seed
- Valley Capital Partners (https://capitalatlas.ai/funds/valley-capital-partners) — Seed