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Enterprises have a data inventory problem . The amount of data they ’re collecting and lay in is increasing , and that information is being fan out across disparate storehouse buckets . Yet many organizations rely on process that essentially amount to pencil - and - newspaper method for tracking data provenance . According to onesurvey , more than 50 % of companies apply Excel spreadsheet in their data privacy and compliance sweat .
Karthik Krishnan , Shankar Subramaniam , and Madhu Shashanka thought they might have the engineering science chop shot to build something to make this easier for companies . The trio had cut their teeth in cybersecurity : Years ago , Subramaniam and Shashanka had recruited Krishnan as one of the first employee at their behavioural analytics startup , Niara .
A few days after Hewlett Packard get Niara , the trio began sketching out ideas for an enterprise datum management cock . They envisioned a product that could catalog a troupe ’s critical data point — including data lay in in infrequently accessed places — and automatically flag any data point that ’s at risk of via media .
“ We skip to solve one of the most urgent data security challenges face the innovative endeavor , ” Krishnan order TechCrunch . “ That is : identifying and stop up business - critical information within structured and unstructured datum , stored on - premises or in the cloud , at shell . ”
The trio build an MVP and foundedConcentric AIto further develop and commercialize it . Today , Concentric has customers in industrial manufacturing , insurance , and eminent education , include car policy carrier Hagerty and DeVry University .
Krishnan excuse how the technical school solve .
First , a client links Concentric to its database , data shop , email and message apps , and even productive AI chatbots such asMicrosoft Copilot . Then Concentric uses AI to witness raw data like passwords , individual files , and audio and video recordings of group meeting in those linked place .
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Concentric then gives the customer good word on way to well stop up its data and stick by to compliance criterion . It can also hunt lineage , demonstrate where a sealed while of data came from and how it ’s being used .
“ Operationalizing data surety is a huge challenge , ” Krishnan order . “ With Concentric , customers can identify anomalous activity and remediate those issue to foreclose data loss . ”
But does n’t monitoring all this company datum present a vast security risk ? What if Concentric gets hacked , or what if hackers attempt to intercept the datum flowing between apps and Concentric ’s platform ?
Krishnan told me that Concentric does n’t deal with in the altogether data ; instead , it create semantic delegacy of the data and data categories . “ Concentric AI merchandise do not put in sensitive substance abuser data , ” he allege .
Concentric is n’t alone in the information protective cover market , which could be worth over $ 500 billion by 2032,accordingto one estimate . The startup competes with Varonis , BigID , Netwrix , Spirion , Cyera , andSecuriti , among other seller .
Still , Krishnan say that Concentric ’s client floor is grow at a healthy clip : It has grown by 300 % from a year earlier .
The continued burgeoning of the data organizations have to brawl is no doubt contributing to the manna from heaven . In a Matillionpoll , data master say that their companionship ’s data book are growing by 63 % per calendar month on average .
“ There ’s an unprecedented demand for data surety position management globally , ” Krishnan said .
San Mateo - based Concentric recently closed a $ 45 million Series B stave carbon monoxide gas - direct by Top Tier Capital Partners and HarbourVest , with participation from CyberFuture , Ballistic Ventures , Citi Ventures , Engineering Capital and Clear Ventures . The new round brings the company ’s total capital raised to $ 67 million , and the fresh Johnny Cash will be used to expand Concentric ’s partner program and product portfolio as well as increase the ship’s company ’s headcount to 125 people by 2025 .
