Singapore-based data protection service Dathena has closed its Series A round on $12m, with Jungle Ventures leading the investment.
Other contributions came from CapHorn and SEEDS Capital, the investment division of Enterprise Singapore. Additional contributions came from previous Dathena backers Cerracap Ventures and MS&AD Ventures.
With the fresh capital, the company will bolster its R&D efforts and hire more staff for its sales, marketing, and customer success teams. The company is also looking to increase its global expansion efforts.
Furthermore, the RegTech plans to deepen its co-sell partnership with Microsoft into the US, supporting Azure Cloud and Microsoft 365 customers automate data protection and comply with new data privacy regulations such as the California Consumer Privacy Act.
FinTech Global previously reported Dathena had raised its Series A round back in March.
Dathena provides 200,000 users with an end-to-end AI-powered solution to identify, classify and protect sensitive information and ensure regulatory compliance.
The platform leverages natural language processing, machine learning and deep learning techniques to offer organisations a suite of tools to prevent data loss and improve data privacy compliance. It does this by identifying, classifying, and protecting sensitive information in an accurate manner, it claims.
Jungle Ventures founding partner Amit Anand said, “Dathena’s global growth positions the tech leader to capitalize on the rapid evolution of the $120 billion data protection market. It’s a shining example of our investment in global tech companies emerging out of Asia and we’re excited to continue to support their rapid growth.”
Copyright © 2020 FinTech Global