Data privacy and protection continues to be a concern for companies, many of which are looking for more sophisticated tools to safeguard their data.
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Enter Dathena Science: The Singapore-based, artificial intelligence-powered data protection and privacy management company raised a $12 million Series A round late Wednesday. The round was led by Jungle Ventures, with participation from CapHorn and Seeds Capital, an investment arm of Enterprise Singapore, the government agency championing enterprise development. Existing investors CerraCap Ventures and MS&AD Ventures also participated in the round.
“Dathena’s global growth positions the tech leader to capitalize on the rapid evolution of the $120 billion data protection market,” Amit Anand, founding partner at Jungle Ventures, said in a written statement.
The new capital will support Dathena’s expanding research and development efforts to build a self-service and plug-and-play platform—one that is already being accessed by 200,000 users—along with the hiring of customer success functions to serve the company’s growing Europe and North American client base, CEO Christopher Muffat told Crunchbase News via email.
CerraCap Ventures and MS&AD Ventures led Dathena’s undisclosed venture round back in 2019, according to Crunchbase data. That investment also included Demetis. Since its inception in 2016, the company has raised a total of $18 million, Muffat said.
Using patented natural language processing, machine learning and deep-learning technologies, Dathena enables chief information security officers and data protection officers to accurately identify, classify and protect sensitive information at scale and with great cost efficiency, Muffatt said.
The company has been able to achieve up to 99 percent accuracy in data classification, with 80 percent reduction in data security operations spend, and 30 percent decrease in data management costs, he said.
Meanwhile, the new round of funding comes four months after Dathena opened a U.S. headquarters in New York City. It also has offices in Thailand, France and Switzerland, with a total of 106 employees across the locations, Muffat said.
Next up, the company plans to expand its co-sell partnership with Microsoft into the U.S., helping Azure Cloud and Microsoft 365 customers automate data protection, he said. In addition, Dathena’s platform 2.0 will launch soon with new database scanning features.