Dathena Raises $12M Series A Round to Drive Global Adoption of AI-Powered Data Privacy and Security Solution
NEW YORK, May 13, 2020 /PRNewswire/ -- Singapore-based deep-tech company Dathena, the leader in AI-powered data protection and privacy management for global enterprises, today announced that they have closed a $12 million Series A round led by Jungle Ventures, with the participation of CapHorn and SEEDS Capital, an investment arm of Enterprise Singapore which is the government agency championing enterprise development. Existing investors Cerracap Ventures and MS&AD Ventures also participated in the round.
Following the opening of Dathena's U.S. headquarters in New York City, the funding round sets the stage for the tech pioneer's continuing global expansion. More than 200,000 users and a multitude of enterprise clients worldwide already trust Dathena's end-to-end AI-powered solutions to identify, classify, and protect sensitive information and ensure regulatory compliance.
As enterprises move services to the cloud, grapple with an explosion of consumer data, and navigate privacy regulations including GDPR and CCPA, new security approaches are required to mitigate the risk and protect against ever-growing corporate and reputational damages. The challenge is further amplified with the growing economic uncertainty and heightened data security risks relating to increased remote working.
Dathena's patented AI tools can unlock crucial new efficiencies, facilitate regulatory compliance, and reduce the risk of costly data breaches. Their integrity, confidentiality, and always-on traceability, along with their ability to secure structured and unstructured data flowing through cloud-based or automated systems, deliver rigorous, cost-effective data security, privacy, and compliance for clients operating in highly regulated spaces or across multiple jurisdictions.
Clients in fields such as financial services, healthcare, and defense trust Dathena to deliver up to 99% accuracy in data classification coupled with an 80% reduction in information security operational costs — the kind of robust ROI that cost-conscious companies demand during turbulent times.
"Dathena's global growth positions the tech leader to capitalize on the rapid evolution of the $120 billion data protection market. It's a shining example of our investment in global tech companies emerging out of Asia and we're excited to continue to support their rapid growth," said Amit Anand, Founding Partner at Jungle Ventures.
"At Dathena, our mission is to build trust in the digital world, even as companies navigate these challenging times and are inundated by torrents of data from exponentially multiplying sources," said Christopher Muffat, founder and CEO of Dathena. "This Series A funding round will help us accelerate our product development and go-to-market efforts, giving more companies the chance to benefit from our flexible, cost-efficient, and uncompromising data-security solutions."
The new funding will support Dathena's expanding R&D efforts, along with the hiring of NYC-based staff across sales, marketing, and customer success functions to serve the company's growing North American client base. Dathena also plans to expand its co-sell partnership with Microsoft into the United States, helping Azure Cloud and Microsoft 365 customers to automate data protection and comply with new data privacy regulations such as the California Consumer Privacy Act.
"We have been following the development of Dathena for over two years, during which we have witnessed their ability to recruit top talent, serve an ever growing base of demanding clients, clarify their unique selling proposition and strengthen their product," said François Santi, Principal at CapHorn Ventures. "We are convinced that they are on track to become the international leader of the very deep, and fast growing, data protection market."
About Dathena:
Dathena is a deep-tech company that brings a new paradigm to data privacy and security solutions. In a world of ever-growing information, regulation, and consumer privacy expectations, enterprises around the globe rely on Dathena to identify, classify and control their sensitive data, reduce risks, and enhance the data protection framework.
Leveraging the power of modern AI technologies, Dathena delivers breakthrough, petabyte-scale solutions with unprecedented accuracy, efficiency and speed that build consumer trust in a digital world and ensure the "privacy and data security protection journey." Founded in 2016, with offices in Singapore, Geneva, Paris, and New York City, Dathena employs more than 100 people, including the world's top data scientists and information risk experts. For more information, go to http://www.dathena.io/.
SOURCE Dathena
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