Singaporean deeptech company Dathena has told e27 that it has closed a US$12-million Series A financing round, led by early-stage VC firm Jungle Ventures.
Other investors in the round include Caphorn and SEEDS Capital, an investment arm of Enterprise Singapore.
Dathena will use the capital for R&D and hire staff across sales, marketing, and customer success functions in New York City.
It also plans to expand its co-sell partnership with Microsoft into the US, helping Azure Cloud and Microsoft 365 customers to automate data protection and comply with data privacy regulations.
“Our mission is to build trust in the digital world even as companies navigate these challenging times and are inundated by torrents of data from exponentially multiplying sources,” said Christopher Muffat, Founder and CEO of Dathena.
“This Series A funding round will help us accelerate our product development and go-to-market efforts, giving more companies the chance to benefit from our flexible, cost-efficient, and uncompromising data security solutions,” he noted.
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The data distress
Numerous companies today are facing security challenges, especially during the pandemic, as cybercriminals have been reportedly ramping up attacks on businesses. This indicates that there is a strong need for enterprises to protect sensitive data and information.
While several companies move their services to the cloud, new security methods are required to mitigate the risk to protect against corporate and reputational damages.
Citing the findings of IT security firm Check Point, Channel Asia recently reported that advanced persistent threat (APT) specialists are persistently targeting countries such as Indonesia, Philippines, Vietnam, Thailand, Myanmar and Brunei.
To address this issue, Dathena promises to deliver efficient, cost-effective data security, privacy, and compliance for clients operating in highly regulated spaces, using its patented artificial intelligence (AI) tools.
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Founded by risk management expert Muffat, Dathena uses Machine Learning and AI tools to help companies prevent data loss, govern data, and meet employees’ demands for cloud-based tools.
The company claims that it has delivered up to 99 per cent accuracy in data classification, coupled with an 80 per cent reduction in information security operational costs, for clients in fields such as financial services, healthcare, and Defence.
At present, it has more than 200,000 users across a range of industries and has established its presence in Singapore, Thailand, France, Switzerland and the US.
Previously, Dathena raised an undisclosed funding round in March 2019, led by MS&AD Ventures, with participation from existing investors CerraCap Ventures and Demetis.
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Image Credit: Dathena
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