Only four months since it was launched out of stealth, Los Angeles-based Open Raven, a modern data security platform, has secured $15 million in its Series A funding.
The round, which brings the company’s total raised to $19.1 million, was led by venture capital firm Kleiner Perkins, along with the participation of existing investors, including Upfront Ventures.
According to Open Raven, the fresh funds will be used to expand its key functions, including engineering, customer support, sales, and marketing. As part of the deal, Bucky Moore, partner at Kleiner Perkins, will also join Open Raven’s board.
“The transition to the cloud and out of physical data centers means that data stores change more quickly than ever before – leaving numerous unanswered questions,” said Dave Cole, co-founder, and CEO of Open Raven. “Security and cloud infrastructure teams are wondering, ‘what AWS accounts don’t we know about?’ ‘Is there any data at risk right now?’ ‘Is our PII where we expect it to be?’ Answering these fundamental questions can be painstaking. We’re giving organizations the ability to take charge of their data and explore their environments from any angle in order to truly understand their risk of cloud data breaches.”
Launched from stealth in February, Open Raven works as a data security startup that provides clients with software specifically designed to identify where data is stored, protect that data, and notify security teams of companies when threats arise.
In its launch, Mark Curphey, co-founder and chief product officer of Open Raven, claimed that the startup stands as the only company that figures out where actual data are stored.
“Most of the people tackling data security, you have to know where your data is. If you look at all the breaches that are happening, breaches are happening because people don’t know where the data stores are in the first place,” he told Business Insider at the time.
To date, with the fresh funds from the latest funding, better features are expected from Open Raven’s security tech.
“Open Raven offers a very foundational approach to addressing vulnerabilities and security risks that exist in the cloud, that come as a result of a data sprawl from engineers and data scientists working to deliver experiences that we rely on as consumers,” commented Moore.
The Los Angeles-based tech startup currently houses 20 employees. In February this year, Open Raven launched out of stealth with $4.1 million in seed funding.