Symmetry Systems on Wednesday announced $15 million in Series A funding that it will use to double its staff from 15 to 30 and add personnel in development, marketing, sales, and engineering.
Mohit Tiwari, the company’s co-founder and CEO, said all of these new employees will focus on the company's core mission of delivering data visibility to customers.
After a breach, top management doesn’t ask which application got hacked, Tiwari said. Instead, they want to know if any sensitive data was lost and what it might cost the company. He added that a lot of the problems organizations face are around data, but most of the tooling is focused on applications (micro-segmentation, shift left), and not the data.
“Given that so many organizations are moving to the cloud, this is a once in a generation opportunity to reset security so it’s answering questions about data," Tiwari said. "Our goal is to map data and track data flows – at scale."
Tiwari explained that as companies migrate to the cloud, both their own legacy and SaaS applications generate billions of data objects that are accessed in on-premises and cloud-based data lakes, databases, and object stores. Symmetry’s DataGuard, helps organizations secure data by addressing data classification, cloud permissions and activity monitoring.
The Series A funding round was led by Prefix Capital and ForgePoint Capital, two noted venture capital funds that invest in new technologies, as well as Accenture Ventures. Symmetry Systems joined Accenture’s Project Spotlight, which connects emerging technology software startups with Global 2000 companies.