AppOmni, a SaaS security management platform, has closed its Series B round on $40m to help it fuel its growing global demand.
The investment was led by Scale Venture Partners, with capital also coming from SaaS providers Salesforce Ventures and ServiceNow Ventures. Previous AppOmni investors ClearSky, Costanoa Ventures, Inner Loop Capital and Silicon Valley Data Capital, also contributed to the funding round.
This capital injection will help AppOmni boost its product development to meet the rising demand for cloud technology and the move to remote working.
Scale Venture Partners partner Ariel Tseitlin said, “AppOmni’s 9x growth last year, driven by the acquisition of customers across a wide range of industries, proves that AppOmni is the market leader in the increasingly important SaaS Security Management market.
“We expect the momentum to continue in 2021 and beyond as companies accelerate their shift to cloud applications to support their larger remote workforces.”
The FinTech has raised a total of $53m in funding since it was founded. It’s Series A closed on $10m January 2020.
AppOmni provides CISOs, enterprise security and IT teams with the tools to secure their SaaS environments. Its tools enable clients to secure their mission-critical and sensitive data, with the technology able to deeply scan APIs, security controls and configuration settings to assess the state of SaaS deployments and their vulnerabilities.
AppOmni CEO Brendan O’Connor said, “Today’s enterprise SaaS platforms are far more powerful and complex than they were in the past. It’s no longer just internal users logging in every day, but also customers, partners, contractors, third party applications, and IoT devices.
“SaaS systems house extremely sensitive data and have become essential to businesses’ day-to-day operations. It’s important for businesses to recognize that SaaS platforms must be adequately secured and continuously monitored just like other pieces of critical IT infrastructure. “
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