Concentric, a San Jose, CA-based leading vendor of intelligent AI-based solutions for protecting business-critical data, announced that it raised $14.5 million in Series A funding.
The round was led by Ballistic Ventures, a new VC firm solely dedicated to advising and funding early-stage cybersecurity startups, this investment targets the $19B market for data security, access governance, and loss prevention.
Citi Ventures also participated in the round as a strategic investment, as did current investors Core Ventures Group, Engineering Capital, and Clear Ventures.
With these investments, the company will grow its existing roster of corporate customers through expanded sales and marketing efforts and extend its solution to protect an expanding menu of content, locations, and use cases.
As a result of the investment, Ballistic Ventures’ Barmak Meftah will join Concentric’s Board of Directors.
Company: Concentric Software, Inc.
Raised: $14.5M
Round: Series A
Funding Month: May 2022
Lead Investors: Ballistic Ventures
Additional Investors: Citi Ventures, Core Ventures Group, Engineering Capital, and Clear Ventures
Company Website: https://concentric.ai/
Software Category: Data Security Solution
About the Company: Concentric provides an autonomous data security solution, which allows security professionals to discover, evaluate, and remediate security issues. Concentric’s data security solution delivers autonomous protection across heterogonous hybrid data environments. Contact us today to learn more. With Concentric, organizations can finally address their unmet data security needs by discovering and protecting business-critical content. Concentric protects intellectual property, financial documents, PII/PCI content, customer data, business confidential data, and more, across on-premises and cloud-based data stores. Concentric is venture-backed by leading Silicon Valley VCs and is headquartered in San Jose, Calif.
Source: https://concentric.ai/press-release/concentric-series-a-funding/