AppOmni, a San Francisco-based independent software vendor, announced yesterday that it has acquired a $ 70 million investment in Series C equity. The company specializes in providing testing and securing services for several leading SaaS systems. , including Salesforce, against internal and external threat actors.
Thoma Bravo, a software investment firm, is the leading investor. There was 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 high-profile SaaS violations 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 across the industry are telling us the same thing: security teams need better visibility into their SaaS environments and automated tools to adequately secure their fast-growing SaaS ecosystem, ”Mr. O’Connor added in a press release.
AppOmni Claims Strong Numbers
In the funding announcement, the company cited trends to assert strong growth. The company says there is a zero-churn rate, with 100% customer retention. The company also says there has been “strong triple-digit ARR growth in each of the past three years.” This indicates that AppOmni has doubled at least in revenue in the past year.
This is in line with the growth of other companies supporting SaaS installations, such as Salesforce platform vendors devops. AppOmni investors recognize a strong demand environment for SaaS -related services. “The digitization of businesses in all sectors has accelerated the need for reliable data protection and control, and AppOmni’s security solutions are unmatched in the industry,” said Tre Sayle, a partner at Thoma Bravo , in a press release.
SaaS Platform Cybersecurity
Dealing with cybersecurity concerns, especially in the world of Salesforce, seems to fall by the wayside for many platform owners. One reason for this is the enormous complexity of Salesforce’s data security. With overlapping security models, it is nearly impossible for an individual to fully understand the management implications of data security rules.
And, in case you forgot, it’s up to the platform owner to properly set up security in a Salesforce org. You get a new org that is almost completely open in terms of data security. This makes it easy for everyone to add new features and use them, but such an open posture can lead to data theft and malicious corruption. That’s where the “shared data responsibility” rule comes in. Usually, if you make a mistake in your data security setup, and a rogue employee steals your customer list, Salesforce is not responsible.
Honestly, it is now very complicated to set up security in a Salesforce org without adequate training and education allowing a team of workers to effectively manage data security in a large org. Platform owners need an external system to fix and adjust that complexity. This is where AppOmni comes in. For Salesforce org owners, AppOmni provides a platform for systematically reviewing and applying data security settings within a Salesforce org. The company also performs similar functions for approximately 20 SaaS platforms, including Office 365, ServiceNow, Workday, Google Workspace, and Slack.
Need for Better Cybersecurity Marketing
A major trend in enterprise computing is that business creators use low -code tools to build applications. These applications are used internally, and occasionally with external stakeholders. Salesforce has pioneered the way for business creators to build functionality using low -code tools.
Thus, every day more critical business, scientific, and financial data is stored and managed in Salesforce. And, because most Salesforce platform owners ignore the cybersecurity of the platform, more incidents of data breaches, theft, and malicious destruction of critical data are inevitable.
But, going through the work and cost of closing an org properly is often at the bottom of the platform owner’s list of priorities. So, how do software makers like AppOmni, OwnBackup, and Odaseva manage to infiltrate and educate platform owners of the upcoming threat?
I think the main upgrade is to only use scary words when we describe products. So I broke down Salesforce cybersecurity sa cybersecurity platform at developer cybersecurity categories. Marketers must connect the external threat environment, which is rightly called major cyberwarin the realities of managing a complex SaaS environment.
AppOmni Funding More Good News for the SaaS Ecosystem
Despite disturbing economic news, and doom-and-gloom from some fintech startups, the SaaS ecosystem appears to be aging by mid-2022. Last week, Salesforce surprised the financial markets by releasing large profits with a very optimistic tone. The tone of this AppOmni funding announcement also seems to reflect a strong customer demand environment.
The success of SaaS cybersecurity companies like AppOmni, as well as other Salesforce devops companies I monitor, is a lagging indicator of overall growth in Salesforce, the company. That’s because Salesforce customers typically add services like AppOmni after they start using a new Salesforce installation.
This funding announcement from AppOmni tends to confirm last week’s positivity from Salesforce. The overall growth of Salesforce combined with the growth of business creators producing critical applications means that the need for securing and managing those organizations is increasingly growing. As 2022 continues, we should see the accumulation of startup funding to meet the growing demand for additional SaaS services.