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Cybersecurity Funding

Data Security Company Symmetry Systems Raises $15 Million

California-based data security company Symmetry Systems on Wednesday announced raising $15 million in a Series A funding round.

California-based data security company Symmetry Systems on Wednesday announced raising $15 million in a Series A funding round.

The round was led by Prefix Capital and ForgePoint Capital, with participation from Accenture Ventures, as well as individual investors Tom Gonser, founder of DocuSign; Omkhar Arasarathnam, engineering director at Google Cloud; Bob Gleichauf, EVP at InQTel and ex-CTO at Cisco; David Tsao, VP of security engineering at Marqeta; and Sameer Sait, CISO at Amazon Whole Foods.

 Symmetry Systems has raised $15 million in Series A fundingSymmetry Systems plans on using the money to support the company’s growth in revenue, customers and employees.

Symmetry describes itself as a provider of Data Store and Object Security (DSOS). The company has developed a platform, named DataGuard, that provides unified visibility into data objects across all stores in an effort to address data security and compliance needs.

“There is a white space in data security for the modern hybrid cloud world and Symmetry is well-poised to help customers gain visibility and manage the modern risks to data,” said Will Lin, managing director and co-founder of ForgePoint Capital.

Symmetry emerged from stealth mode in August 2020 with $3 million in seed funding. The company was founded by Mohit Tiwari, a former cybersecurity professor at the University of Texas, and Casen Hunger, one of Tiwari’s former students.

“Data security is a side-effect of infrastructure and application security — small mistakes there lead to large breaches or ransomware attacks,” Tiwari, Symmetry’s CEO, told SecurityWeek when the company emerged from stealth.

He added, “The difficult thing about data security is that a solution will need to look into data objects and across data stores to learn how user and service identities use data — and then tie it to an organization’s security and compliance targets. DataGuard learns attributes about the data (PII/PCI/PHI, stale, its owners and users, etc…) and uses this visibility to drive compliance, detection-response and guide infrastructure and data-store specific defenses.”

Related: Data Privacy Startup TripleBlind Raises $8.2 Million in Seed Funding

Related: Data Security Startup Privafy Emerges From Stealth Mode

Related: Cybersecurity VC Funding Hit Record in 2020 With $7.8 Billion Invested

Written By

Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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