Real-time data security platform Borneo has raised $15.5m in its Series A round, which was led by Vulcan Capital.
Other contributions to the Series A came from Prosus Ventures, Lytical Ventures and previous backer Wavemaker Partners.
With the equity, the FinTech company plans to further the development of its technology to meet the rising demand from customers.
Borneo offers a developer-first suite of tools to identify high-risk and sensitive personally identifiable information via machine learning technology and open APIs. Its technology integrates with existing tools and workflows to help companies easily meet privacy compliance, it said.
Borneo CEO and founder Prithvi Rai said, “It was said that every company would someday be a software company, and with that reality, it can now be said that every company is also now a data company.
“This paradigm shift presents increasingly complex security and privacy challenges as data flows through dynamic cloud-first environments. Businesses must act now to ensure that sensitive data is properly inventoried and adequately protected.”
Commenting on the deal, Prosus Ventures head of Southeast Asia investments Sachin Bhanot said, “More than ever, companies are managing a high variety and volume of data while navigating increased pressure from both consumers and regulators on data privacy practices.
“The Borneo team has created an adaptable, robust, and efficient platform to address these challenges, empowering companies to protect better and manage data better. With a global offering powered by the leadership team’s significant industry expertise, Borneo is in a unique position in this quickly growing and innovative segment, and we’re thrilled to join as an early investor to support the company’s next phase of growth.”
This investment brings the total equity raised by Borneo to $18m.
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