AppOmni, a cloud data lead visibility and security platform, has launched from stealth and closed its seed round on $3m.
Early-stage technology investor Costanoa Ventures led the investment round, with participation also coming from Silicon Valley Data Capital, and Twilio COO George Hu.
AppOmni aims to protect companies from cloud-based data leaks, due to existing data security methods being ‘obsolete’, the company said. Its technology constantly monitors SaaS applications via their public APIs and evaluates their exposure and data risk against security policies.
When a problem is uncovered, customers are alerted and given detailed information about it’s cause and redemption needs. Security teams are able to define rules for data access, ensuring it is not being exposed to third-parties or the public internet.
In addition to protecting online data, the solution helps to companies with their compliance reporting, giving ongoing controls assurance for SaaS applications. AppOmni also lets companies classify their data according to type, business need and compliance requirements.
AppOmni co-founder and CEO Brendan O’Connor said, “We saw an increasing gap in security with the vast majority of business-critical applications now delivered as SaaS. Organizations have no way to effectively manage data leaks in SaaS. Doing so successfully requires an approach built expressly for these mission critical business applications.”
Earlier in the year, Costanoa took part in the $8m Series A funding round of cybersecurity developer Elevate Security. The company helps to educate and train employees to become the first defence for cyber threats.
Copyright © 2018 RegTech Analyst
