Odaseva Raises $54M Series C Round to Expand Product Offerings and Continue Category Leadership
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Latest funding round capitalizes on recent growth, catalyzing further product innovation and expansion into new markets
SAN FRANCISCO, June 27, 2024 /PRNewswire/ -- Odaseva, the leading enterprise data security platform for Salesforce, today announced a $54 million Series C equity financing, bringing the total company funding to more than $90 million. Silver Lake Waterman led the round, with participation from existing investors F-Prime, Eight Roads and Serena Capital, and new investors Eurazeo and Crescent Cove. The investment comes after several marquee new customer wins across industries and geographies, and will support further growth, including additional investment into data security and Zero Trust product offerings.
Enterprises around the globe are digitizing more strategic processes, including assets containing sensitive data with high demand for confidentiality, integrity and availability - further accelerated by AI and compliance standards. Odaseva is the trusted Salesforce enterprise data security platform securing more than 100 million users for customers around the world, including a growing number of Global Fortune 500 companies. The power of the Odaseva platform enables Salesforce end-to-end encryption, optimizes Salesforce availability up to 99.99% and delivers among the best-in-the-industry Salesforce Recovery Point and Time Objective (RPO/RTO).
"Data sits at the core of large organizations, so we know trust with our customers is more important than ever before. We're proud that Odaseva's commitment to data security exceeds the requirements of even the most complex, highly regulated businesses in the world," said Sovan Bin, CEO and Founder of Odaseva. "This round of funding will help to accelerate our growth into new markets and keep us at the forefront of innovation in the space."
"The Odaseva team has built a leading data resiliency platform for the Salesforce ecosystem that provides security and continuity solutions for mission critical applications," said Shawn O'Neill, Managing Director and Group Head of Silver Lake Waterman. "Sovan and the Odaseva leadership team have a solid track record of building value and trust with global enterprise customers and we are excited to partner with the team and help drive further growth."
The Series C funding will accelerate Odaseva's leading product development and investment into deepening levels of global reach, including additional resources for North America, Europe and Asia Pacific. Odaseva will continue to hire top talent at the executive level, following the recent additions of Steven Corbin, Chief Financial & Operating Officer, Matthew Johnston as Chief Revenue Officer and Susan Lansing as Chief People Officer.
About Odaseva
Odaseva delivers the strongest data security solution for enterprises running on Salesforce, safeguarding confidentiality and integrity of critical business information. Global Fortune 500 companies rely on the Odaseva Enterprise Data Security Platform to gain powerful defense against threats to Salesforce data, ensure business continuity and comply with regulations. It is designed and built specifically to solve the complex challenges of large-scale global organizations.
With Odaseva, enterprises can confidently navigate the evolving data security landscape, ensuring that operations remain uninterrupted and aligned with regulatory standards. Learn more at www.odaseva.com.
About Silver Lake Waterman
Silver Lake Waterman is part of Silver Lake, the global leader in technology investing with approximately $103 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake Waterman focuses on providing flexible expansion capital to later-stage growth companies in the technology and technology-enabled industries. For more information about Silver Lake Waterman and Silver Lake, please visit www.silverlake.com.
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