AppOmni, a SaaS cybersecurity provider, announced Monday the close of a $70 million Series C round led by Thoma Bravo. The funding will allow AppOmni to accelerate product development, fuel international growth and scale go-to-market plans.
Enterprise SaaS adoption is on the rise, according to Gartner, which forecasted global spending for SaaS reaching $176.6 billion this year — making it the largest public cloud services market segment. While SaaS products offer innovative tools to many organizations, securing data within them remains difficult, leading to costly data breaches and cyber attacks.
By providing data access visibility, management and security, the AppOmni platform protects data stored in popular SaaS cloud products including Box, Confluence, Fastly, GitHub, Google Workspace, Jira, Microsoft 365, Salesforce, ServiceNow, Slack, Workday, Zoom and more. More than 78 million users trust AppOmni to keep their data secure without compromising ease of access for employees, many of which are scattered across the globe. To date, AppOmni says it has secured more than 230 million exposed data records.
“The high-profile SaaS breaches we’ve seen in recent months highlight the urgency CISOs are facing,” AppOmni co-founder and CEO Brendan O’Connor said in a statement. “Customers and prospects across industries tell us the same thing: security teams need better visibility into their SaaS environments and automated tools to adequately secure their quickly growing SaaS ecosystems. I founded AppOmni to deliver the security solution that I wish I had while leading security teams at Salesforce and ServiceNow. I am excited to partner with Thoma Bravo and our existing investors to further enhance and scale our solutions so we can help more organizations across the globe to secure their entire SaaS environments.”
This Series C, which saw participation from Scale Venture Partners, Salesforce Ventures, ClearSky and Costanoa Ventures, brings AppOmni’s total capital raised to $123 million.
This funding comes after a period of growth for AppOmni. The company launched its INFINITY Partner Program last August and has since seen a 5x increase in North American partners and 4x increase in partners in Europe, the Middle East and Africa. AppOmni also boasts a customer retention rate near 100 percent and in each of the past three years has achieved triple-digit ARR growth. The company is also looking to grow its team with 13 open positions on its website.
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