AppOmni has successfully raised $70 million in a single funding round, establishing itself as a key player in SaaS Security Management. The platform offers comprehensive solutions to prevent data breaches in SaaS environments, serving industries like technology, healthcare, and finance.
Keep reading to explore the intricacies of AppOmni's fundraising journey and the investors backing this innovative platform.
What Is AppOmni?
AppOmni, founded by Brendan O'Connor and Brian Soby, is a leading provider of SaaS Security Management software. The company was established by a team of security veterans from top SaaS providers and cybersecurity vendors.
Headquartered in San Francisco and Carbondale, AppOmni secures enterprise applications by scanning APIs, security controls, and configuration settings. Their patented technology ensures that SaaS deployments align with best practices and business intent.
With a workforce of 51-200 employees, AppOmni serves industries like technology, healthcare, and finance, offering fast deployment and instant visibility to secure SaaS environments.
How Much Funding Has AppOmni Raised?
- Seed Round
- Amount Raised: $3,000,000
- Date: January 2019
- Lead Investors: Costanoa Ventures
- Motivation Behind the Round: To develop the initial product and validate the market need for SaaS security solutions.
- Series A Round
- Amount Raised: $10,000,000
- Date: April 2020
- Lead Investors: ClearSky
- Motivation Behind the Round: To expand the engineering team and accelerate product development.
- Series B Round
- Amount Raised: $40,000,000
- Date: March 2021
- Lead Investors: Scale Venture Partners
- Motivation Behind the Round: To scale the go-to-market strategy and increase market penetration.
- Series C Round
- Amount Raised: $70,000,000
- Date: June 2022
- Lead Investors: Thoma Bravo
- Motivation Behind the Round: To advance product development, accelerate international growth, and scale go-to-market processes.
Total Amount Raised: $123,000,000
Current Valuation: $500,000,000 (~estimated)
Key Investors
- Thoma Bravo
- Details: Thoma Bravo is a leading private equity firm with a focus on software and technology-enabled services. They have a history of driving growth and innovation in their portfolio companies.
- Investment Focus Areas: Software, technology-enabled services, cybersecurity
- Notable Investments: SolarWinds, McAfee, Barracuda Networks
- Scale Venture Partners
- Details: Scale Venture Partners is a venture capital firm that invests in early-in-revenue technology companies. They support companies through their growth stages to achieve market leadership.
- Investment Focus Areas: SaaS, cloud, internet
- Notable Investments: Box, DocuSign, HubSpot
- Salesforce Ventures
- Details: Salesforce Ventures is the global investment arm of Salesforce, focusing on enterprise cloud companies. They aim to extend the power of the Salesforce platform through strategic investments.
- Investment Focus Areas: Enterprise cloud, SaaS, AI
- Notable Investments: Zoom, Twilio, Dropbox
- ClearSky
- Details: ClearSky is a venture capital and private equity firm that invests in innovative companies in the cybersecurity, industrial technology, and power technology sectors. They provide both capital and strategic support.
- Investment Focus Areas: Cybersecurity, industrial technology, power technology
- Notable Investments: Dragos, Verodin, CloudKnox
- Costanoa Ventures
- Details: Costanoa Ventures is an early-stage venture capital firm that focuses on enterprise software, data, and fintech sectors. They aim to help founders build lasting companies.
- Investment Focus Areas: Enterprise software, data, fintech
- Notable Investments: Alation, Intacct, Quizlet
What's Next for AppOmni?
AppOmni stands at the cusp of significant growth opportunities. With $70 million in Series C funding, the company is poised to advance its product development, accelerate international growth, and scale its go-to-market processes. The increasing importance of SaaS security solutions and the growing need to secure mission-critical data present a vast market for AppOmni to tap into.
Future fundraising opportunities seem promising as the company continues to expand its capabilities and market reach. However, AppOmni will need to navigate challenges such as keeping up with rapid technological advancements and managing an increasing number of users and data records. Expanding and maintaining a global presence while competing with other SaaS security firms will also be critical hurdles to overcome.
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