London-based Metomic, a next-generation data security solution for protecting sensitive data in SaaS applications, announced that it has raised approximately €18.92M in a Series A round of funding.
The round was led by Evolution Equity Partners with participation from Resonance and Connect Ventures.
The no-code processes from Metomic are being used by security, privacy, and compliance teams to automate data rules throughout their SaaS apps.
This includes the capacity to immediately notify staff members when they upload confidential data into the incorrect setting, effectively allowing a human firewall throughout the organization.
Metomic is giving organizations visibility and control of their data across collaborative SaaS applications, including Google Apps, Slack, Jira, and Zendesk, by connecting to the data layer of these work tools.
It enables security experts to view the data that is being kept, its location, and its users.
Metomic reports that more than two million data breach risks lurking in SaaS networks over the past 18 months have been stopped by its automated platform.
Metomic says it will use the funds for expansion in the US, and research and development initiatives.
The money will also allow the startup to double down on its AI technology, furthering its mission to enable safer, more compliant data sharing across collaborative SaaS ecosystems.
The company has customers across Europe and North America, with 50 percent of its customers based in the US.
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