Dathena, a renowned Singapore based deep-tech company and a leader in AI-powered data protection and privacy management, has reportedly raised a $12 million Series A round. This round was led Jungle Ventures along with participation from CapHorn as well as Seeds Capital, an investment unit of Enterprise Singapore. Moreover, MS&AD Ventures and CerraCap Ventures, who are the company’s existing investors, also took part in the round.
Amit Anand, founding partner, Jungle Ventures, stated that the data protection market across the globe has reached nearly $120 billion and global growth of Dathena places it at a lucrative junction to capitalize on this growth.
Christopher Muffat, CEO, Dathena, stated that the new capital would further help in expanding the R&D efforts of the company in order to build a plug-and-play and self-service platform. This is now being accessed by nearly 200,000 users, together with onboarding of innovative customer success functions in order to serve the firm’s growing North American and Europe customer base.
Muffat further stated MS&AD Ventures and CerraCap Ventures led the company’s unrevealed venture round back in 2019. The investment back then also included Demetis. The company, since its establishment in 2016, has raised approximately $18 million.
The company, by utilizing deep learning, machine learning technologies, and patented NLP (natural language processing), empowers data protection and chief information security officers to identify, classify as well as protect the sensitive data at scale with immense cost-effectiveness.
Muffat added further that the firm has been able to attain nearly 99% precision in data classification, with about 30% reduction in data management costs and around 80% depletion in data security operations spending.
The company’s new round of funding comes four months after it opened its new headquarters in U.S., located in New York. The company has offices in Switzerland, France, and Thailand, with nearly 106 employees throughout the locations.
Meanwhile, the company further plans on expanding its co-sell partnership with Microsoft into the United States, allowing Microsoft 365 and Azure Cloud customers to automate data protection. Additionally, the platform 2.0 of Dathena would soon be launching with novel database scanning attributes.