10 May 2007

ASI and other investors back GuardTime with 1,35 MUSD

Tallinn, May 10, 2007 – Ambient Sound Investments (ASI), the investment group established by four founding engineers of Skype leads the second investment round to Estonian-based digital stamp service developer GuardTime after establishing the company with experienced Estonian information security experts in October 2006.

The second investment from ASI together with other investors proves the commitment of the group to developing the infrastructure service with a global reach. According to the latest agreement ASI adds 0,3 million USD to its original investment while other investors engaged will provide 1,05 million USD.

The time stamping service will be offered to the providers of archiving, document management or other similar services.

"The increasing amount of digital documents and tougher requirements from the legislators on proving the integrity of digital content makes it a service with vast global potential," says ASI partner Priit Kasesalu. "GuardTime has unique information security expertise and a novel solution with multiple ways for implementation."

The technology, available in the second half of 2007, allows a digital stamp to be attached to the electronic document proving the creation time and integrity of the digitally archived content. The stamp can be added to text documents, tables, and graphs, audio and video files.

"This will be a simple add-on service to the companies with clients required to prove the integrity of their digital content by legislation," says GuardTime CEO Märt Saarepera. According to him the investment will finish the software development phase and help to offer the full-featured service.

For example, the service can be used to prove the integrity of a digital signature, when a detailed construction plan was accepted or when an audio recording was made. Similarly to physical documents also verifying the integrity of digital documents is increasing.

GuardTime AS

The company was established by information security experts Märt Saarepera, Ahto Buldas and investment group Ambient Sound Investments (ASI). GuardTime develops technology for verifying the integrity of digitally archived documents. The employees of the company are experts of information security and digital verification technology. For more information, please visit: http://www.guardtime.com/

Ambient Sound Investments

Ambient Sound Investments (ASI) was established by the four founding engineers of internet telephony company Skype. ASI is a professional investment company with a specific interest in technology start-ups spanning from software and services to applications and devices. Since March 2006, the company has invested in several sectors including telematics, biotechnology, software, services and others. For more information, please visit: http://www.asi.ee/

For more information, please contact:

Märt Saarepera
CEO, GuardTime

Priit Kasesalu
Partner, Ambient Sound Investments