Total amount raised
$119.5 Millions
Latest funding date
4/1/2022
Location
Obsidian Security has successfully raised significant funding through multiple rounds, with the latest being a Series C round. The company specializes in providing comprehensive SaaS security solutions, focusing on threat detection and posture management.
Keep reading to explore the intricacies of Obsidian Security's fundraising journey and the investors backing this innovative platform.
What Is Obsidian Security?
Obsidian Security, founded in 2017, is headquartered in Newport Beach, California. The company was established by Ben Johnson, Glenn Chisholm, and Matt Wolff.
Specializing in threat detection and posture management, Obsidian Security focuses on securing business-critical SaaS applications. Their services include SaaS Security Posture Management and SaaS Identity Threat Detection and Response.
With a team of 101-250 employees, Obsidian Security continues to innovate in the field of SaaS security, providing comprehensive solutions to safeguard interconnected applications.
How Much Funding Has Obsidian Security Raised?
- Series A
- Amount Raised: $9.5M
- Date: June 2017
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial SaaS security solutions.
- Series B
- Amount Raised: $20M
- Date: February 2019
- Lead Investors: Wing Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale operations to meet growing demand.
- Series C
- Amount Raised: $90M
- Date: April 2022
- Lead Investors: Menlo Ventures, Norwest Venture Partners, IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund global expansion of R&D and Go-to-Market teams to meet increasing demand for SaaS security solutions.
Total amount raised: $119.5M. Current valuation: Not publicly disclosed.
Key Investors
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies in the consumer and enterprise sectors.
- Investment Focus Areas: Technology, Consumer, Enterprise.
- Notable Investments: Uber, Roku, Warby Parker.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global, multi-stage venture capital and growth equity investment firm.
- Investment Focus Areas: Technology, Healthcare, Business Services, Financial Services, Consumer.
- Notable Investments: Spotify, Uber, BlueJeans.
- IVP (Institutional Venture Partners)
- Details: IVP is a later-stage venture capital firm that invests in rapidly-growing technology companies.
- Investment Focus Areas: Technology, Internet, Digital Media, Enterprise IT.
- Notable Investments: Twitter, Slack, Snap.
- Greylock
- Details: Greylock Partners is a venture capital firm that invests in early and growth-stage companies.
- Investment Focus Areas: Consumer, Enterprise Software, Infrastructure.
- Notable Investments: Facebook, LinkedIn, Airbnb.
- Wing
- Details: Wing is a venture capital firm that focuses on early-stage investments in technology companies.
- Investment Focus Areas: Enterprise Technology, Data, AI.
- Notable Investments: Snowflake, Cohesity, Gong.
What's Next for Obsidian Security?
Obsidian Security is poised to capitalize on the growing need for SaaS security, with opportunities to expand its R&D and Go-to-Market teams globally. The company aims to address security gaps in SaaS applications, a market that has seen a 5x growth in high-value deals. With organizations using an average of 150 SaaS applications, the potential for growth is substantial.
Future fundraising opportunities seem likely as Obsidian continues to scale its operations and enhance its platform. However, the company will face challenges such as keeping up with the rapidly evolving cybersecurity landscape and ensuring compliance across various applications. Competing with other firms in the SaaS security space will also be a significant hurdle.
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