The cloud storage service then creates a central repository for management and provisioning of company data, which saves IT departments the task of administering each user account individually, Oberman said.

Companies retain complete ownership and administration of all their data, knowing that SpiderOak employees can never view the data for any reason, Oberman added.

Richard Stiennon, chief research analyst with IT-Harvest, said SpiderOak is now the only cloud storage service built from the ground up with security in mind. In a , Stiennon wrote that other cloud storage providers "are scrambling to build security features in after the fact."

One "even talks about how they have policies in place to prevent their own employees from looking at customer data. We all know how that works out. Policies are not security. Neither are passwords," he said. "Full encryption and keys in the hands of the customer are the only way to protect data in the cloud."

SpiderOak's three services are: