06 Sep Top Online Privacy App Maker Raises $295 Million
AnchorFree, the company behind popular VPN Hotspot Shield, recently raised $295 million in funding despite VC investors’ aversion to companies associated with virtual private networks. The money raises the company’s total funding to $358 million, which reportedly outpaces any of its rivals.
It is said that the interest in VPN companies is becoming more mainstream due to the recent privacy scandals of Facebook and Equifax.
AnchorFree founder David Gorodyansky explains that the interest partly comes from typical consumers who are now taking privacy and security more seriously. This is despite the fact that using a VPN could not have prevented the consumers from data leaks such as Facebook’s.
Source: NY Times