Concentric AI, a San Mateo, CA-based vendor of intelligent AI-based solutions for autonomous data security posture management (DSPM), raised $45M in Series B funding.
The round wad led by Top Tier Capital Partners and HarbourVest Partners. CyberFuture, Ballistic Ventures, Engineering Capital, Clear Ventures, and Citi Ventures also participated. In addition, Garth Timoll Sr., General Partner of Top Tier Capital Partners, has been named to the Concentric AI Board of Directors.
The company intends to use the funds to expand go-to-market strategies and accelerate its data security innovations to further cement its leadership position in the AI-driven Data Security Governance market.
Led by CEO and Founder Karthik Krishnan, Concentric AI secures data-centric work using AI to protect business-critical information hidden in the numerous applications, data stores and databases used by today’s distributed workforce. Its learning solution using sophisticated natural language processing autonomously and accurately identifies sensitive data, assesses risk, and remediates security issues, allowing organizations across industries to fully meet their data security needs for the first time. It automates unstructured and structured data security both on premises and in cloud environments using deep learning to categorize data, uncover business criticality and reduce risk in enterprises’ databases, data repositories, email and messaging applications, and enterprise GenAI tools and AI assistants.
FinSMEs
24/10/2024