Modern encryption tools can provide a strong layer of defense for data that’s sitting idly or being transmitted across a network. But records must be decrypted into their original, readable form whenever an application needs to use them, which creates an opening for hackers.

Mountain View, California-based Fortanix Inc. is working to close this security gap. The startup today announced that its efforts have received a significant outside boost in the form of a $23 million funding round led by Intel Corp.’s venture capital arm.

In addition to being an investor, the chipmaker is Fortanix’s most important partner. The startup’s two products use the SGX technology that Intel ships with its data center processors to protect records and application code while they’re in active use.

SGX provides the ability to split off parts of a server’s memory into so-called enclaves that are isolated from the rest of the machine. These enclaves are inaccessible not just for the other workloads, but also the hypervisor that manages hardware resources and even the operating system. At the same time, companies can still check the contents of the protected memory for potential malicious modifications.

Fortanix’s first product, the Runtime Encryption Platform, harnesses SGX to create encrypted environments for running cloud applications. It enables companies to take advantage of Intel’s memory-isolated technology without the extensive code modifications normally required to do so. According to Fortanix, an organization can seamlessly move existing workloads into a secure environment and manage them with the same orchestration tools it used before.

The startup promises protection against a wide range of threats. Thanks to the underlying memory isolation, applications can freely access data without exposing it even if would be-attackers possess administrator access to the operating system. Fortanix claims its platform also can keep workloads secure if a hacker gains physical access to a server.

The startup’s other product, the Self-Defending Key Management Service, applies the same principles to a different use case. It’s designed for storing passwords, encryption keys, certificates and other sensitive data vital to a company’s cybersecurity efforts. The offering enables administrators to manage these assets centrally across different cloud platforms.

Fortanix will use the new funding to grow its operations across the board, with a particular emphasis on expanding internationally. The investment brings the startup’s total raised to $31 million.

Photo: Unsplash