Singapore-based data security startup Dathena has snagged $12 million in its Series A round, which it says will provide the funds to drive its expansion plans, specifically, in the US where it has a sales partnership with Microsoft. The funds also will be tapped to boost its product development work.
Founded in 2016, the tech startup offers data security and privacy tools that are powered by artificial intelligence (AI) technologies and deployed to classify and manage confidential data. The company touts a 99% accuracy in its data classification capabilities and an information security operational savings of 80%.
Dathena said in a statement Thursday the latest funds injection would further drive its expansion efforts in North America, where it planned to make new hires for its New York City office as well as grow its co-sell partnership with Microsoft.
Its collaboration with the Redmond-headquartered software vendor encompasses helping Azure Cloud and Microsoft 365 customers automate data protection and comply with local data privacy regulations, such as the California Consumer Privacy Act.
Dathena also has offices in Paris and Geneva, and hires more than 100 including data scientists across its four global sites. It has a user base of more than 200,000 worldwide.
Its Series A round was led by Jungle Ventures and included existing investors such as Cerracap Ventures and MS&AD Ventures as well as Caphorn and SEEDS Capital, which is the investment arm of Singapore’s government agency Enterprise Singapore.
Dathena’s founder and CEO Christopher Muffat said: “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. This Series A funding round will help us accelerate our product development and go-to-market efforts.”
