Prisidio, a cloud data storage startup based in Chicago, has raised an additional $3.5 million in seed funding to expand its digital vault platform.
The series funding round was led by Chicago Ventures with participation from existing investors OCA Ventures and Origin Ventures. This brings the total seed funding raised by the startup to $6.85 million. Rob Chesney, Partner at Chicago Ventures, referred to the firm’s participation by stating:
“A global pandemic and a never-ending series of natural disasters have taught us the importance of preparing for the unthinkable, and Prisidio helps ease the stress that comes with the chaos of locating and organizing important assets. Chicago Ventures is excited to help create a product that will help everyone at all stages of their life. We’re excited to partner with Glenn and Paul again as we believe they are world-class entrepreneurs and are working to address an important global need.”
The startup was founded in 2020 with the mission to change how people store key documents and information while also sharing them with family and advisors. The digital vault platform developed by the startup will offer its users an effective and secure way to ensure documents like wills, mortgage deeds, tax documentation, and other essential data are safely stored and easily accessible to trusted parties at any given time.
Prisidio CEO Glenn Shimkus and CMO Paul Koziarz, the two series entrepreneurs with more than 50 years of combined experience in document management who founded the startup, believe that tracking vital information has become an unnecessarily difficult process. Despite the important role such information plays in the lives of millions of people, no solution seems to have taken advantage of today’s technology to facilitate the process. Shimkus said in this regard:
“Tracking down vital personal information and documents is time-consuming and frustrating, especially when you need to find them fast – and that’s if you can even remember where to look. Prisidio changes all of that with a centralized, secure solution for individuals and families to store, organize, and share their most important personal documents and information in order to collaborate and be prepared for whatever the future may bring. Our platform makes it easy to, for example, snap a photo of your watch or grandma’s pearl necklace, and add a video note about why the item is important to you.”
The rise of cloud computing and storage solutions has made it easier than ever to easily store and access information from any location and device. However, existing solutions don’t provide a secure way to grant access to trusted parties or to efficiently organize the data itself. Prisidio is looking to be the first to provide an effective solution to this problem, providing millions of people with a way to be prepared for the unexpected at a time when many have realized they were not.