Metomic, a London, UK-based next-generation data security solution for protecting sensitive data in the new era of collaborative SaaS, announced that it raised a $20 million Series A funding round.
The round was led by Evolution Equity Partners, with participation from Resonance and Connect Ventures.
The investment will be used for U.S. expansion efforts and research and development initiatives. It will also allow Metomic to double down on its AI technology, furthering its mission to enable safer, more compliant data sharing across collaborative software-as-a-service (SaaS) ecosystems.
"Security, IT, and compliance teams have no visibility into the data employees are storing and sharing across third-party SaaS applications. They are suffering from alert fatigue and are overwhelmed with the amount of notifications they have to address,” said Rich Vibert, CEO and Co-Founder, of Metomic. “By triaging critical risks and putting remediation in the hands of employees, we give security teams the most effective, scalable, and modern way to protect their most vulnerable data, without getting in the way of high-value work.”
Metomic is giving organizations visibility and control of their data across collaborative SaaS applications, including Google Apps, Slack, Jira, and Zendesk by connecting to the data layer of these popular work tools. It allows security professionals to see what data is being stored, where it is, and who has access to it.
The company’s automated processes are having a groundbreaking effect on how modern companies protect sensitive data at scale.
Currently, Metomic has customers across Europe and North America, with 50% of its customers based in the U.S. It plans to quadruple its employee headcount by the end of the year, with its sales and marketing functions headquartered in the U.S.
Company: Metomic Ltd
Raised: $20.0M
Round: Series A
Funding Month: February 2023
Lead Investors: Evolution Equity Partners
Additional Investors:
Company Website: https://metomic.io/
Software Category: Data-Centric Security Software
About the Company: Founded in 2018 by Benjamin van Enckevort and Richard Vibert, Metomic is a technology company providing a user privacy management platform for standard privacy compliance, such as GDPR. The company’s platform helps website owners to categorize cookies, manage privacy policies, and provide a convenient method for end users to customize their data flow. As a next-generation security solution focused on cloud-based applications, Metomic gives security teams clear visibility into their organization’s SaaS network to manage sensitive data and detect security threats, allowing businesses to take full advantage of their SaaS application network.
Source: https://metomic.io/blog/metomic-raises-20-million-to-protect-sensitive-data-in-saas-applications