The road to safetyДЇollowing the G Suite mishap, they started sourcing for a new cloud service provider. This is something that we have to do as a venture fund every day,вЂќ Alon says. Whenever we have to check a new company, I have to look at their data and I have to share confidential documents with my limited partners. вЂњWe write checks for companies all around the world that are just starting off on their timeline. The screening and sourcing process involves tons of sensitive data, from financials through business strategies to proprietary information. Their mobile payment app uses facial recognition technology that lets users pay using just a selfie. Munich-based Saffe has set out to make payments more secure and less fussy. Another one, Quartix, is an alternative lender that specialises in supply chain financing, improving the financial performance of supply chains on the buyer side and reducing the borrowing costs of SME suppliers. Their portfolio includes up-and-coming tech ventures, such as Edquity, a financial planning and budgeting app that offers much-needed help for high school and college students with their day-to-day finances.

Stacked Capital is an early-stage, post-seed venture fund based in New York City that focuses on technology investments. Because this is just not acceptable.вЂќД¬onsidering just how mission-critical their data is, Alon had every reason to be cautious. After that, we made an internal decision not to rely on Google when it comes to mission-critical data.

So, for days, we had absolutely no access to our own data and thatвЂ™s very scary. What Google does in such cases is they shut off your entire suite for four to five days. The problem is that we had a domain wild card issue with our SSL. There were volumes of data sitting on our Google Drive. вЂњWe are G Suite users, meaning that we were using Google Drive with our own encryption on top of it to secure files and make sure that in case something goes wrong, nobody can access them. вЂњIt all started with Google,вЂќ says Alon Hillel-Tuch, managing partner at Stacked Capital, recalling the incident that made him rethink data security at the organisational level.

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