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Thursday, April 18, 2024

AppOmni Raises an Investment of $70 Million for Securing SaaS-based Operations

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 AppOmni, a leading Cloud-based Software-as-a-service provider based in San Francisco raises funding equal to $70 Million in a series C funding round having Thoma Bravo as the prime investor.

Other backup investors include Scale Venture Partners, Clearsky, Salesforce Ventures, and Costanoa Ventures. With this investment round, the total funding received by the start-up attains a mark of $123 Million. AppOmni is operating as a security provider for Software as a Service-based application. 

Appomni 70m Series Funding

AppOmni was co-founded by Brendan O’Connor and Brian Soby in 2018 and is currently headquartered in San Francisco, United States of America.  Its foremost purpose is to provide security solutions and insights for SaaS applications. Along with this, they also deal with providing and managing data access rules and regulations to protect it from unauthorized and third-party access attempts. In the era of digital transformation, vulnerabilities come along with the same. The application scans the system and Application programming interface for any security issue or vulnerability and sends an alert when encountering the same. Not only limited to sending alerts, but It also provides solutions for eliminating vulnerability and protecting the data.

According to AppOmni, they find numerous security threats and issues on average with a single sacking of the company’s data. Security is an essential part of any project or data and AppOmni is providing world-class solutions for protecting SaaS-based Applications, which is a widely used Cloud-based service.  AppOmni delivers security solutions in multiple domains including fintech, technology, healthcare, and others, and for all the major SaaS-based Service providers such as Microsoft 365, Workday, Salesforce, Google Workspace, GitHub, and many more. Configuration management and Data access prevention are some of the services provided by the start-up; it has protected the data of millions of users and businesses. AppOmni has some global clients including Accenture and Dropbox and is one of the best security providers in terms of SAAS-based services. 

Chief Executive Officer, Brendan O’Connor said that Cloud-based SaaS plays a major role in the tech industry but in terms of Security, most of the organizations are not doing up to the mark. They are providing services to secure SaaS data and protect it from any vulnerabilities as SaaS is dealing with sensitive and important data, according to him. And the recently raised funding will be used to improve security. He also added that he feels excited to partner with amazing investors such as Thoma Bravo and others to scale their operations. 

The plans of the start-up include scaling up the security services for Software-as-a-Services platforms and improving the previously launched application. Along with this, the company will focus on global growth as said by the CEO, and expand it on a big level.  AppOmni has recently launched the “AppOmni Developer Platform”, which is being used widely among people. Robert Style of Thoma Bravo will also join the board of directors at AppOmni.

Talking about the investors in this round,  Thoma Bravo is the Chief one. It is a subsidiary company of Golder Thoma &Co and was founded in 2008. It deals in private equity and investments in Tech and software companies. Robert Sayle, partner (Thoma Bravo) said that due to the process of digitalization in all sectors, the need for data security or protection has surged and AppOmni’s solutions stand out among its competitors. He also said that they are feeling thrilled to partner with AppOmni and Brendan O’Connor. 

Talking about the backup investors, Scale Venture Partners was founded in 2000 as a private venture capital investment firm that deals with Series A and Series B funding with its headquarters location in Foster City, California, United States of America. 

Clearsky is a venture investment firm based in Florida, USA. The firm started its operations in 2012. Salesforce Ventures is an investment firm that comes under the parent company, Salesforce, and was launched in 2009 in San Francisco, USA.  It primarily invests in cloud-based companies.  Last but not least is Costanoa Ventures which is an early-stage funding company that deals with Series A and seed investments. Costanoa Ventures was founded in 2012 with its headquarters located in Palo Alto, U.S.A.

In April 2021, AppOmni received funding of $40 Million in a Series B round with investors including Scale Venture Partners, Silicon Valley Data Capital, Salesforce Ventures, Inner Loop Capital, Costanoa Ventures, Clearsky, and ServiceNow  Ventures. Before this, the start-up has raised an undisclosed amount of capital in December 2020. In January 2020, a series A funding round of $10 Million was led by Geroge Hu, Silicon Valley Data Capital, InnerLoop Capital, Clearsky, and Costanoa Ventures. The start-up has not disclosed its total valuation to date. 

With the emerging usage of SaaS, it becomes very urgent and essential to protect your data from any breach, theft, or any other issue. AppOmni which also comes under the Top 100 CyberTech companies of 2022 is performing commendably to provide security solutions to businesses.

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