Vault Cloud raises $22.5 million with NRFC support to strengthen national security tech

The National Reconstruction Fund Corporation (NRFC) has announced a $22.5 million investment in Australian cloud computing provider Vault Cloud.

The investment is part of Vault Cloud’s Series B funding round, with additional capital coming from private Australian investors for an undisclosed amount.

This news follows the NRFC’s $25 million contribution to Adelaide nanosatellite startup Myriota’s $50 million capital raise, announced on Thursday.

Founded in 2012, Vault Cloud provides secure, sovereign, and hyperscale cloud infrastructure to government, defence, and critical infrastructure sectors. 

Its capabilities include hosting data classified by the Australian Signals Directorate as PROTECTED, SECRET, and TOP SECRET. The investment will accelerate Vault’s development of new services, such as AUKUS cloud capability and AI-enhanced security features, and expand its existing SECRET Cloud platform.

“Ensuring the security of classified information is an important consideration for Australian governments in today’s contested world,” NRFC chair Martijn Wilder said. 

“Vault’s services store classified government and defence data locally in Australia and protect it with state-of-the-art security technologies and protocols.

“As the first investment in the NRFC’s Defence Capability priority area, Vault is an excellent example of the ways in which the NRFC can invest to protect Australia’s national interests.”

Vault CEO Rupert Taylor-Price highlighted the significance of the partnership for boosting Australia’s sovereign cloud capabilities. 

“Vault is proud to provide the secure infrastructure that supports the nation’s defence and industrial goals. With the NRFC’s support, we are poised to scale our capability and help meet Australia’s strategic national security demands, whilst at the same time contributing to the nation’s economic growth,” Taylor-Price said.

This announcement follows a string of year-end investments by the NRFC, including $13 million for quantum computing startup Quantum Brilliance and $40 million for Queensland mining services company Russell Mineral Equipment.

The fund’s last-minute push signals that the federal government is trying to finalise key investments before the early 2025 budget and election cycle.

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