SAN FRANCISCO -AppOmni, a SaaS security provider, has raised $ 70 million in a series of Series C funding to advance product development, international growth, and measure go-to-market processes. The investment was led by Thoma Bravo, a leading software investment firm, with participation from current investors, including Scale Venture Partners, Salesforce Ventures, ClearSky, and Costanoa Ventures. In this round, AppOmni has raised $ 123 million in total funding to date.
The adoption of software as a service (SaaS) continues to grow at a rapid pace, with Gartner predicting global SaaS spending to reach $ 176.6 billion this year. As companies move their sensitive data and critical business processes to the cloud, they need a better way to secure their SaaS environments.
This year alone, SaaS data breaches have affected some of the largest and most widely used SaaS applications. Millions of data records have been exposed and companies large and small are quickly understanding the urgency of securing their data.
AppOmni protects more than 78 million users across a wide range of SaaS platforms and captures more than 230 million exposed data records. AppOmni’s SaaS security management software provides cost savings by speeding up development processes and enabling security and IT teams to secure more of their tech stacks with more little resources.
“The high-profile SaaS breaches we’ve seen in recent months highlight the urgency faced by CISOs,” said Brendan O’Connor, CEO and co-founder at AppOmni. “Customers and prospects in different industries tell us only one thing: security teams need better visibility into their SaaS environments and automated tools to adequately secure their fast-growing SaaS ecosystems. I founded AppOmni to deliver the security solution I wanted to have while leading the security teams at Salesforce and ServiceNow. I am excited to partner with Thoma Bravo and our current investors to further improve and expand our solutions so we can help more organizations around the world secure their entire SaaS environment. ”