Open Raven, a data security-management company that helps enterprises prevent leaks, breaches and compliance incidents, announced last week it had raised $20 million 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 $40 million.
“I’m extremely proud of what our team has achieved in such a short amount of time. Our platform simply works,” Dave Cole, chief executive of Open Raven, said in a release. “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.”
Open Raven will use the funding to make investments in engineering, sales and marketing to expand its roadmap and support for its portfolio.
“If you are a cloud-first company and your business depends on data, the first thing you should be doing is using Open Raven,” Jeff Kearl, partner at Pelion, said in a statement. “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.”
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. 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. The AWS ISV program helps companies like Open Raven drive new business and increase sales by connecting participating independent software vendors (ISVs) with the AWS Sales organization.
“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, deputy vice president of information security at TaskUs, a digital outsourcing company. “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.”
