Today, the Satori team and I are extremely proud to announce our $20 million Series A funding round, co-led by B Capital Group and Evolution Equity Partners with participation from Satori’s Seed investor YL Ventures.
Data is eating the world. Data and analytics are driving bleeding edge innovation across industries from car manufacturers developing self-driving cars, to hospitals using predictive data analytics for early disease detection, to retailers scrutinizing customer data to make predictions on consumer purchases, before the consumers themselves even considered it.
When Satori was born in 2019, the strategic importance of data inspired us to look deeper into available technologies for managing data at scale. Early in the process it was evident that while the industry has made significant progress in ingestion, storage and analytics technologies, the operational aspects of running a large-scale data infrastructure was left behind.We were especially surprised by the exorbitant amount of resources invested by companies in building and maintaining security and access management solutions. Companies are spending scarce engineering resources on ad-hoc patches such as remodeling data, creating views and cumbersome workflows just to end up with hard-to-access data, degraded performance and a growing percentage of their dev sprints being consumed. Making matters worse, adding tools and data sources means recreating existing infrastructure, every time.
Drawing from our experience with securing large-scale network and application infrastructures, we knew that there was a better way to address security and access management when it came to data but that there are some fundamental breakthroughs that need to take place.
(1) Security and access management must be decoupled from the data model as a separate service layer in the data infrastructure, allowing data teams to innovate and sprint forward without distractions.
(2) The focus must shift to Data Flows, taking into account the people and the data, as opposed to the current separation between managing people and managing data.
(3) The data access model must transition from a manual, people-driven process to an automated, self-service data marketplace experience.
That is how Satori’s DataSecOps came into existence.
DataSecOps is a new methodology that allows companies to streamline data analytics by removing security dependencies and friction from the process of running analytics. This is done by embedding a robust security framework into a company’s data infrastructure and integrating data security and access management into data operations. DataSecOps ensures complete visibility and control over data flows from the security and access management perspective, while providing a seamless experience for gaining access to data.
We’ve witnessed a surge in demand for Satori’s platform over the past year, with medium and large companies from the financial, healthcare and technology sectors adopting our technology. Our Series A round will allow Satori to take DataSecOps to the next level and transform the data access experience from a manual and highly technical process into a streamlined, context-rich and self-service experience. Building on the proven ability of our platform to automate security and access processes, we are now reinventing the entire data access experience and enabling companies to use the transformative power of data to drive a 10x growth in innovation and productivity.
This funding round will also be instrumental in accelerating our operations and powering our innovation, by growing out our exceptional team. We are always seeking driven salespeople, marketing experts and engineers to help us transform data security with DataSecOps. If you are passionate about data and comfortable with working alongside fast-paced, innovative and wildly talented people, we would love to hear from you. Let me know if you are up for the challenge.
We thank our Satori team for being the driving force behind our vision, along with our investors, advisors and customers who have placed their trust and belief in what we strive to accomplish. We look forward to the next phase of our journey!