Osano, a threat and compliance startup, has confirmed it has raised $11 million in new funding.
The spherical was led by Bounce Capital, with participation from present buyers LiveOak Enterprise Companions and Subsequent Coast Ventures.
The Austin, Texas-based firm describes the spherical as a Sequence A-1, following a $5 million Sequence A elevate in 2019, simply months after it debuted at ahosti Startup Battlefield. In whole, the startup has raised $22.3 million.
Osano is a software-as-a-service platform that helps firms monitor and handle their threat and compliance with privateness legal guidelines, like Europe’s GDPR and California’s CCPA, which grant customers entry to and extra management over their private info.
The corporate additionally tracks modifications to the foundations and legal guidelines it covers to ensure that clients don’t by chance fall out of compliance, which might result in hefty fines for egregious breaches.
Osano can be rolling out a brand new AI-powered knowledge discovery device to routinely discover and classify dozens of varieties of private and nonpersonal knowledge. Osano additionally gives integrations with dozens of apps and companies, together with AWS, Dropbox, Google and Oracle.
The $11 million money injection will go towards doubling the corporate’s headcount, with a give attention to gross sales to fulfill its rising demand.