RedOwl Analytics Announces $4.6 Million of New Funding
BALTIMORE, June 24, 2014 /PRNewswire/ -- RedOwl Analytics, a company that applies analytics to internal corporate data streams for proactive risk oversight, announced the closing of their Series A financing with $4.6 million of new funding. Investors include Marc Benioff, Salesforce.com Chairman and CEO, Igor Sill of Geneva Venture Group, Under Armour CEO Kevin Plank (via Sagamore Ventures), Christian Lawless of Conversion Capital, Attractor Ventures LLC, Propel Baltimore, and TEDCO's new Veterans' Opportunity Fund. The additional capital will help RedOwl accelerate product development and expand their client portfolio in the financial services, legal & investigative, and government verticals.
Since the company's inception in late 2011, RedOwl's mission has been to make sense of the ever-growing digital trail inside the firm through powerful analytics and insightful workflow – changing the face of security, investigations and compliance through technology. Today's companies face increasing regulation, intellectual property risk, and overwhelming amounts of stove-piped data. RedOwl's approach connects previously disparate corporate data sources, and exposes powerful search, discovery, and reporting.
"We are building RedOwl on the premise that internal oversight across financial services and beyond is primed for disruption," said RedOwl CEO, Guy Filippelli. "We are witnessing a transformational shift in how corporations think about mitigating the risk they face from today's digital and regulated world. Corporations have spent the last several years worried about their electronic devices and networks. With today's regulatory and enforcement environment, we've seen the focus shift to their own people. What's critical is a more fundamental analytics-based approach - to be able to look holistically at the person. Nothing's been done to tackle that need."
RedOwl's software, Reveal, brings high-level data science to the everyday user. "No other software in the market fuses communications, physical, cyber, and transactional data into one platform, enables powerful search and discovery on the content, then exposes fast, digestible reporting and alerting around patterns, changes, and anomalies over time," Filippelli added. "This funding round is a testament to our exceptional team and will help solidify our product's maturation within the industry."
The Series A round will also reflect the conversion of two previous rounds of seed capital (2012 and 2013) with investors from the venture capital, finance, and government sectors, led by Oxpoint Holdings, Scout Ventures, TEDCO, and In-Q-Tel.
About RedOwl Analytics
RedOwl Analytics offers a cutting-edge analytical solution to security, compliance, and investigative use cases. RedOwl's flagship product, Reveal, provides immediate value to forward-leaning organizations that understand the massive potential of their untapped internal data sources in improving oversight and reducing risk. For more information, visit www.redowlanalytics.com.
SOURCE RedOwl Analytics