Data protection provider Digital Guardian today announced it raised $30 million in a financing round that will help it accelerate product development and innovation.
The Waltham, Massachusetts-based company offers a data loss prevention platform that works across the corporate network, traditional endpoints, and cloud applications.
The platform currently secures over 4.5 million endpoints across 50 countries worldwide, in verticals such as financial services, manufacturing, healthcare, technology, and professional services, the company says.
Recent regulation such as GDPR and the upcoming California Consumer Privacy Act are expected to drive the adoption of robust data protection, and Digital Guardian aims at monetizing the demand.
“We are seeing increasing demand from organizations around the world for next-generation data protection solutions that secure sensitive information against both insider threats and external attacks,” Mordecai Rosen, chief executive officer of Digital Guardian, said.
The company also announced management team additions for engineering, corporate strategy and product management. Connie Stack, who joined as Chief Marketing Officer in 2013, will become Chief Strategy Officer, Debra Danielson has been appointed Chief Technology Officer and SVP of Engineering, and Ben Cody is the new SVP of Product Management.
“With this strategic investment and new leadership at the helm, we will be able to successfully capitalize on the growing demand by accelerating product development and innovation,” Rosen continued.
The funding round was led by equity firm and existing investor LLR Partners and saw participation from GE Pension Trust, Mass Mutual Ventures LLC, Brookline Venture Partners, Golub Capital, and the Venture Capital Unit of Siemens Financial Services.
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