Is encryption enough? Ask Ashley Madison users, and they might say it’s a bare-minimum security requirement.
But data breaches aren’t the only reason individuals should care about online privacy, said Mike McCamon, president and chief marketing officer of Northbrook-based data security firm SpiderOak. He said users shouldn’t be OK with companies profiting off their identities — as in the case of Google and Facebook — either.
SpiderOak, which encrypts data on local devices, then backs them up in the cloud, announced it has raised a $3.5 million Series A funding round led by Chicago-based OCA Ventures, with participation from local investors BW Capital Partners, DRW Venture Partners and KGC Capital. The round brings the eight-year-old company’s total funding up to about $9 million.