Cloud Security Biz TokenEx Grabs $100M In Series B

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By Charlie Innis (March 23, 2022, 2:00 PM EDT) — TokenEx, a cloud security company specializing in tokenization services, raised $100 million in Series B funding from K1 Investment Management to invest in its workforce and expand globally, the startup said Wednesday.

The startup, founded in 2010, aims to help other companies protect and store the financial data they process through a practice called tokenization. Tokenization refers to substituting a sensitive piece of data, such as a credit card number, with a nonsensitive equivalent, such as a random string of numbers that bears no meaning or value, according to its website.

Alex Pezold, founder and CEO of TokenEx, said in the…

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