Ryft has emerged from a 10-month stealth phase, securing an $8 million seed round led by Index Ventures and Bessemer Venture Partners. The startup aims to provide a flexible data product that allows customers to avoid vendor lock-in, a concern in today’s AI-driven landscape. Ryft optimizes data management including compliance, disaster recovery, and governance while granting customers ownership and diverse access to their data using various tools. Founded by three friends with backgrounds in software engineering, Ryft currently employs 13 people and plans to use the funding to expand its team and product offerings.
Ryft provides a more flexible data product for its customers than cloud giants like Snowflake, Databricks, Microsoft, AWS, and Google. Companies don't want to be locked with a single vendor and then only use their capabilities.
Ryft handles data optimization, compliance, disaster recovery, and governance while allowing customers to take ownership of their data, allowing them to access it with different tools.
The New York-based company was founded by three friends who met in high school and subsequently worked together as software engineers in the Israel Defense Forces, building data software.
The seed round will go toward hiring more engineers, scaling sales efforts, and launching new products, according to cofounder and CEO Yossi Reitblat.
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