jSonar, a company that provides database security solutions, on Tuesday announced that it raised $50 million from Goldman Sachs.
This growth round is jSonar’s first institutional round of funding. The company told SecurityWeek that it did previously secure some private investments, but it can’t disclose exact details.
jSonar provides a comprehensive platform designed to help organizations secure their database systems and ensure compliance across cloud and on-premises environments. The solution consumes raw data and turns it into actionable security information, helping reduce database risks and operationalizing security controls.
“We have so much room to grow – and these funds will help us do a lot of it in parallel rather than doing it sequentially,” Mariah West, VP of marketing at jSonar, said via email.
West added, “We continue to see workloads moving to the cloud and, especially now, companies are more cost conscious than ever. We’re building our staff in order to accommodate the inflow of requests and help address customer needs quicker. This includes sales and marketing as well as growing R&D to address customer requests for deeper AI and more automation. Our customers have always given us great advice on what to build next and we want to do this quickly.”
The company’s platform supports more than 60 database systems, including AWS, Google Cloud Platform, Microsoft Azure, MongoDB, Snowflake, Hadoop, Cassandra, and Teradata.
jSonar says its solutions have been used by many organizations in the financial services, insurance, and healthcare sectors, including Fortune 500 companies and some of the world’s largest banks. The company says most of its customers are based in the United States, but it’s looking to expand, particularly in Europe, where it already serves three of the continent’s largest banks.
“In the last decade, enterprise database infrastructure has grown exponentially in scale and complexity. Simultaneously, data security has evolved from a compliance requirement to a critical enterprise security component,” said David Campbell, managing director in the Merchant Banking Division at Goldman Sachs, who will join jSonar’s board of directors as part of the transaction.
“jSonar enables its customers to meet today’s data security demands, positions them to adopt new databases, data lakes, and cloud services, all while expanding their analytical capabilities. We are excited to invest in jSonar and work with the team to continue to build a world-class business,” he added.
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