[Funding alert] Data security startup Seclore raises $27M; VenturEast exits with 17.5X return
, data-centric security platform provider, said that it has raised $27 million in Series C funding round led by Oquirrh Ventures and Origami Capital.
As part of this transaction,has fully exited its stake. VenturEast backed the company at seed and Series A rounds, exiting with 17.5X return on its seed round.
With the new capital infusion, Seclore aims to fast-track its journey to become the platform of choice for enterprise data protection initiatives. The company will use the funds to expand its headcount globally as well as itscustomer base in North America. The funding round brings the total fundraise to date to $46 million.
With big government and defense agencies and more than 500 global enterprises, including American Express, Applied Materials, ADM, Saudi Telecom, and ICICI Group as its customers, Seclore has established a leadership position in the data-centric security space.
Vishal Gupta, CEO of Seclore, during the announcement, “Seclore’s data-centric approach is geared toward relieving enterprises from protecting infrastructure to protecting what really matters—the data. This investment fuels our ability to protect the modern workplace and ensures enterprises have a trusted partner for data security, governance, and compliance.”
"Confidential data is everywhere. Data is in transit with third parties, public clouds, and personal devices. Enterprises cannot afford to ‘chase’ this data through its lifecycle," he further added.
Team Seclore. Source: Company Website
Headquartered in Milpitas, California, 2005-founded Seclore offers open, automated, browser-based, data-centric security platform for enterprises. It allows organisations to utilise best-of-breed solutions to discover, classify, protect, and track enterprise data, both within and outside the organisation’s boundaries. Over 2,000 companies and government organisations in 29 countries use Seclore to achieve their data security, governance, and compliance objectives.
Commenting on this development, Dhiraj Gupta, Principal, VenturEast said, "Seclore has grown to become a pioneer in innovating data-centric security solutions for enterprises. We are proud to have been part of the company’s exciting journey—right from being its very first seed investor a decade ago, and then through multiple subsequent rounds of funding."
Dhiraj went on to say, "We have seen Vishal, Abhijit and team building the business brick by brick. As they enter a new growth phase with us handing the baton to our co-investor friends, we will continue to their progress.”
“As we look to the future of global cybersecurity, our investment thesis supports the rapidly unfolding data-centric security sector,” said Ron Heinz, Founder and Managing Partner at Oquirrh Ventures, adding, “We looked at the team, technology stack, and total addressable market and recognized very quickly that Seclore is positioned to be the global market leader in data-centric security.”
“We are very pleased to be working with Seclore CEO Vishal Gupta and the talented team he has assembled,” stated Origami Partner Julie Klaff. “It is an exciting time to be supporting Seclore’s expansion as they emerge as the world’s thought leader in an increasingly important role of protecting enterprise sensitive information.”