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Very Good Security
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Provides data security and compliance solutions
Very Good Security
Work Here?
Provides data security and compliance solutions
About Very Good Security
Industries
Cybersecurity
Financial Services
Company Size
201-500
Company Stage
Series C
Total Funding
$100.7M
Headquarters
San Francisco, California
Founded
2015
Overview
Very Good Security (VGS) provides a security infrastructure that helps businesses protect sensitive data, such as credit card information and social security numbers, while allowing them to focus on product development. VGS's main offerings include the VGS Vault for secure data storage and a Tokenization API that replaces sensitive data with unique symbols, ensuring that no actual data is exposed in case of a breach. This system allows clients to manage their data security effectively, avoid vendor lock-in, and reduce transaction fees, ultimately increasing their transaction volume. VGS serves a diverse range of clients, from small startups to large corporations, and offers scalable pricing that starts free and adjusts as a client's security needs grow. The goal of VGS is to simplify the product creation process for developers by providing a reliable and efficient way to handle data security and compliance.
Simplify's Take
What believers are saying
- Growing demand for tokenization solutions boosts VGS's market potential.
- Partnerships with major fintechs expand VGS's reach in emerging markets.
- VGS's Payment Optimization suite reduces transaction fees and improves approval rates.
What critics are saying
- DOJ lawsuit against Visa may impact VGS's compliance requirements.
- Geopolitical risks in Africa and the Middle East could affect VGS's operations.
- Rapid growth may strain VGS's operational capabilities and security oversight.
What makes Very Good Security unique
- VGS offers a unique tokenization API for secure data redaction and revelation.
- Their scalable pricing model supports businesses from startups to large corporations.
- VGS's partnership with Onafriq enhances security for fintechs in Africa and the Middle East.
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Funding
Total Funding
$100.7M
Meets
Industry Average
Funded Over
3 Rounds
Andreessen HorowitzIndustry standards
Benefits
Health Insurance
Unlimited Paid Time Off
Flexible Work Hours
Stock Options
401(k) Retirement Plan
401(k) Company Match
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Parental Leave
Phone/Internet Stipend
Home Office Stipend
Professional Development Budget
Growth & Insights and Company News
6 month growth
↓ -14%1 year growth
↓ -11%2 year growth
↓ -11%After listening to and scrolling through days of “expert” commentary about the lawsuit filed by the DOJ against Visa over debit interchange, I feel compelled to weigh in. Big headlines about big companies — especially concerning DOJ allegations of anticompetitive behaviors and lawsuits to signal they really mean it — bring everyone and anyone out of the woodwork. Social media gives everyone and anyone a platform to say anything they want. Facts seem to be an inconvenient detail
VGS has announced a strategic partnership with Onafriq, Africa’s largest payments network, that is aimed at bolstering security and innovation for Fintechs across Africa and the Middle East. This partnership marks the culmination of a longstanding relationship between the two entities, with VGS serving as Onafriq’s trusted partner for PCI compliance and payment features.As a universal token vault provider, VGS specializes in securely collecting and storing payment card information on behalf of its clients, thus shielding them from PCI compliance liability and the inherent risks associated with handling sensitive data. This collaboration has empowered Onafriq and its fintech clientele to operate with enhanced security and peace of mind while focusing on driving innovation and delivering superior financial services to their customers.This partnership brings with it a host of important developments. Onafriq is set to implement VGS’s card reveal capability for its new “Credential Show” feature, which will apply to virtual cards and other card issuance features specifically tailored to fintech providers in Africa and the Middle East.The “Credential Show” feature is enabled for fintechs and financial institutions when they opt for this capability, together with card issuing APIs offered by Onafriq. This is where Onafriq and VGS securely collect and store PAN (Primary Account Number) data and display a complete card number, expiration date, and CVV to end-users upon their request. The process insulates Onafriq’s fintech clients from coming under compliance scope while offering user self-serve options and reducing customer service needs.Moreover, VGS and Onafriq are committed to exploring opportunities for product co-development and expanding the scope of payment acceptance use cases throughout Africa and the Middle East
Historically, Very Good Security (VGS) has created a suite of tokenization products and services with a primary audience in the payment stack.
Very Good Security (VGS), the modern standard for secure storage, exchange, and optimization of the world’s payment and identity data, today announced that it has ranked 991 on the Inc. 5000 list of Fastest Growing Companies.
Very Good Security has raised more than $104 million in funding.
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About Very Good Security
Industries
Cybersecurity
Financial Services
Company Size
201-500
Company Stage
Series C
Total Funding
$100.7M
Headquarters
San Francisco, California
Founded
2015
Very Good Security is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today