Investment comes amid strong customer growth and significant expansion of its data security platform
Open Raven – the data security posture management company helping enterprises prevent leaks, breaches, and compliance incidents – announced it raised $20M in Series B funding. The round was led by Pelion Ventures with participation from existing investors Kleiner Perkins and Upfront Ventures. This increases Open Raven’s total funding to date to $40M. Jeff Kearl, Partner at Pelion, joined Open Raven’s Board of Directors along with Seksom Suriyapa from Upfront Ventures.
“If you are a cloud-first company and your business depends on data, the first thing you should be doing is using Open Raven,” said Jeff Kearl. “They have a level of visibility at scale and completeness that other platforms simply can’t provide. Their execution keeps getting better and better across product expansion, customer acquisition, and retention.”
“Everything security teams are responsible for, from incident response and risk management to regulatory compliance, requires accurate and thorough cloud data intelligence,” said Gary Miller, DVP of Information Security at TaskUs. “The understanding we get from Open Raven of our total data landscape in AWS helps us make better decisions about how to protect what is most important to our business.”
With the new funding, Open Raven is making additional investments in engineering, sales, and marketing to accelerate their roadmap and expand support for their increasing portfolio of large enterprises. Already, this month, Open Raven released new data intelligence capabilities including structured data classification and a new set of APIs for both pulling data and triggering scans. Also, earlier this year, Open Raven joined the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerate Program to co-sell with AWS field sellers globally.
“I’m extremely proud of what our team has achieved in such a short amount of time. Our platform simply works,” said Dave Cole, CEO of Open Raven. “We took head on and solved one of the biggest problems in security, specifically data classification at a massive scale that also satisfies budget and privacy sensibilities.”
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