Our next chapter: An $11 Million Series A Round
Today, I’m happy to share that we’ve raised our first institutional round of funding – an $11 million Series A led by Mobeus. I’m also thrilled to welcome Trevor Hope, Partner at Mobeus, to our Board of Directors. This is an exciting milestone, so I wanted to take the opportunity to share some of our future plans.
Analysts at Gartner estimate that upwards of 80% of enterprise data is now unstructured. It’s a significant problem that’s not going away. Enterprises are sitting on mountains of data, putting them under intense pressure to manage and make the data readily available.
In the past two years alone, working with organizations such as the United States Marine Corps and Les Schwab, we’ve analyzed billions of files and found millions of instances of records containing sensitive information such as unencrypted password files, Social Security Numbers and other types of personally identifiable information (PII).
Last year, we launched several new features and product improvements to make it easier for enterprises and government entities to map, clean, classify and delete their redundant, obsolete and trivial data.
- Continue to innovate
We have an aggressive product development roadmap and we want to accelerate our delivery. We’re going to invest in hiring more software engineers, QA resources and UX/UI developers to build even better data privacy and governance solutions.
- Accelerate growth
The data protection market is expected to grow to over $120 billion by 2023. This funding will help us to scale rapidly to cement our position as a leader in this fast-growing market. We’re going to continue to build out our partner eco-system by developing relationships with top privacy, security and data management technology and professional services organizations.
Growth also means people. We’re looking for hard-working, creative and enthusiastic folks to join our team in sales, marketing, customer success and development. Keep an eye on our careers page for job postings or contact us if you’re interested in learning more.
- Expand our geographic footprint
We have big aspirations at Active Navigation. Our mission is to empower organizations of any size to understand and remove the risks from their data, wherever it is. We currently have offices in the US, UK and Australia, and our software is deployed across 5 continents.
The additional capital will allow us to continue to expand internationally, translate our rule-sets into several additional languages, and maybe even get deployed in Antarctica!
- ….and launch a new product.
All I can say on this one is: stay tuned! We will be launching our new product in 2020. If you would like to know more about our new privacy-orientated SaaS product, please let us know.
Lastly, thank you to all our customers, partners, investors and employees. We couldn’t have done it without you.
We’re looking forward to the next chapter! For more information, you can read the full press release here.