DoControl, the automated Software-as-a-Service (SaaS) security company, announced it has raised a $30 million Series B funding round led by New York-based global private equity and venture capital firm Insight Partners.
DoControl’s new funding is a testament to its rapid enterprise adoption and ability to prevent data loss without slowing down business enablement. Its Series B will help the company scale its SaaS data security innovations, launch strategic channel and partnership programs, and supercharge its global growth.
DoControl mitigates the risk of costly data breaches created by unmanageable data across popular SaaS applications. DoControl harnesses user interactions and API access across SaaS applications and feeds it all to powerful no-code workflows that automatically identify, respond to, and remediate threats stemming from SaaS data policy violations. Its mission-critical SaaS data access control solution effectively eliminates the enterprise threats created by departing employees, third-party vendors, cross-team collaboration, and more.
The investment from Insight Partners will enable DoControl to double its headcount and advance its go-to-market penetration in the United States and beyond. DoControl will also develop a national channel partner program to enable MSPs, resellers, and other key partners to provide Zero Trust SaaS data access control capabilities to a broader user base. Most importantly, DoControl will leverage its funding to develop innovations that meet the needs of modern businesses reliant on SaaS tooling while extending its use cases to new vertical markets.
Adam Gavish, Co-Founder and CEO, DoControl
SaaS is the new IaaS when it comes to security control complexity and data access exposure. Recent high-profile attacks, such as the alleged Okta, HubSpot, and Twitter breaches, either started or continued with access control exploitation resulting in unauthorized access to the crown jewels - sensitive customer data. Since data is the new oil, security teams understand they now need to extend their Zero Trust architecture from the identity and network into the SaaS data layer.
Stephen Ward, Managing Director at Insight Partners
Every modern company has to deal with the risk of unmanageable SaaS data access, where sensitive company, employee, and customer data are stored within popular enterprise applications. DoControl offers a rare combination of asset management, security automation, and remediation actions that eliminate the risk of exposure created by a lack of SaaS data protection capabilities.
