Data security solution startup Metomic raises $20M for US expansion

Information safety resolution startup Metomic Ltd. introduced right this moment that it has raised $20 million in new funding for U.S. growth efforts and analysis and improvement initiatives.

Based in 2018, Metomic gives a next-generation knowledge safety resolution for safeguarding delicate knowledge within the period of collaborative software program as a service. Safety, privateness and compliance groups use the corporate’s platform to create no-code workflows that automate knowledge insurance policies throughout their SaaS purposes.

The corporate argues that as SaaS surges in reputation, challenges come up from the shortage of visibility and management corporations have over what knowledge workers are importing in SaaS apps and whom they’re sharing it with. Consequently, personally identifiable data, confidential data and safety credentials are being saved and uncovered unnecessarily – typically by chance, presenting an actual danger to organizations that depend on the productiveness advantages of SaaS, however want to regulate and shield their most delicate knowledge.

Metomic’s platform contains the flexibility to ship real-time notifications on to workers after they have uploaded delicate knowledge into the improper surroundings, primarily enabling a human firewall throughout the group. The platform permits safety professionals to see what knowledge is being saved, the place it’s and who has entry to it.

The platform offers organizations visibility and management of their knowledge throughout collaborative SaaS purposes, together with Google Apps, Slack, Jira and Zendesk, by connecting to the information layer of those standard work instruments.

“Safety, IT and compliance groups haven’t any visibility into the information workers are storing and sharing throughout third-party SaaS purposes,” Wealthy Vibert, co-founder and chief government of Metomic, mentioned in a press release. “By triaging essential dangers and placing remediation within the fingers of workers, we give safety groups the simplest, scalable and trendy method to shield their most susceptible knowledge, with out getting in the best way of high-value work.”

Over the past 18 months, Metomic’s platform has prevented greater than 2 million knowledge leak threats in SaaS ecosystems and has detected lots of of thousands and thousands of delicate knowledge factors inside SaaS apps. Of the delicate knowledge discovered, 99% didn’t must be the place it was discovered or was accessible to individuals who shouldn’t have entry.

Metomic has clients throughout Europe and North America, with 50% of its clients primarily based within the U.S. Notable clients embrace Zego Holdings Ltd., Clearcover Inc., Marshmallow Monetary Companies Ltd., Numan (UK) Ltd., Kantox Ltd. and Metromile Inc.

Evolution Fairness Companions LLC led the Collection A spherical, with Resonance Ltd. and Join Ventures Administration LLP additionally collaborating. Together with its U.S. growth efforts, Metomic will even use the brand new funding to double down on its synthetic intelligence expertise and quadruple worker headcount by the tip of the 12 months.

Picture: Metomic