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Securing swarm services remains a challenge for enterprise . That ’s why several companies have been work on security solution that specifically speak that need .
In the latest model of that , Odasevahas raised $ 54 million in funding . This startup focuses on one sole exercise case : secure Salesforce environments . Silver Lake Waterman is leading this rhythm , with former backers F - Prime , Eight Roads and Serena Capital also participating . raw backers Eurazeo and Crescent Cove are completing the round .
Odaseva has now raised $ 90 million to date . It ’s not reveal its evaluation but founding father and CEO Sovan Bin said the sub-$100 million pre - money estimate inPitchBookis definitely wrong . Considering that this Series C is coming on the back of substantial impulse for the company — which passed 100 million user inNovember 2022and counts the like of hotel hulk Accor , Schneider Electric and Michelin as customers — the rating is potential to be much higher .
Odaseva has an interesting backstory that led to the inauguration ’s creative activity .
Sovan Bin used to work at Salesforce more than a dozen years ago , at a clip when the CRM giant was already big but not nearly as crowing as it is today . He was based in Paris and was tasked with helping some of Salesforce ’s biggest customers , such as Schneider Electric ( which at the metre was in reality Salesforce ’s biggest client globally ) , image out how to expend Salesforce and have it be as untroubled as what it was replacing , which was a appeal of on - premiss root .
Bin said that they found that Schneider and the others were all using a collection of unlike solutions to guarantee their environments — gunpoint root , but more around points of exposure than points of specific practical program usage .
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His approach , based on his deep sympathy of Salesforce specifically , was to make a solution that can work with it and its particularities and apply vitrine .
It influence , and he see that there could be a bigger business organization in selling that solution for others . Thus , Odaseva was bear , originally in Paris , by and by relocating to San Francisco to be closer to customers in the U.S. Its products today include data point protective cover ( including backup and rejuvenate services ) ; zero - trustingness datum certificate ; data archive ; data compliance ( which has definitely grown with regulations ) ; and data point platform services ( which let in sandbox seeding , mechanisation and more ) .
Bin is French - Cambodian and the company name Odaseva flux words from both languages , with a very lateral progression to the company ’s mission statement . “ Oda is base on the Scripture for ‘ temerity ’ in French , and ‘ seva ’ comes from a very old word in Cambodia , from Sanskrit , meaning , aid the community in a very altruistic mode , assay to help the elders . Long taradiddle unforesightful , it ’s come to to trying to be innovative when thinking about client success . ”
As Salesforce has grown in revenue and scope as a business over the last 12 year — it made more than $ 9 billion in revenue in the last stern , and since 2012 , its full - class tax income have increasedmore than 13 - foldas it ’s brought on a telephone number of unlike avail for substance abuser — so has Odaseva . But so have others after identifying the opportunity here .
The multitude of companies providing protection solution specifically for Salesforce substance abuser , and the Salesforce environment , includeAppOmni , WithSecure , Opswat , Varonisand evenSalesforce itself . That competitive landscape painting , however , does not seem to faze the startup . binful tell me that the addressable market is large enough that , even if one day Odaseva might seem at tackling other SaaS app , for now there are no plans to do so .
One other matter to observe here : Odaseva ’s funding is significant also because of some of the larger market setting . The pendulum in initiative IT over the last several years has swung in the way of platforms and by from point solutions . The narrative has move something like this : budget are constrained so vendee are take care for all - in - one solutions that are much easier ( and thus less expensive ) to procure and finally operate , and so there is a integration underway as more spot resolution ( help narrower use case ) come together under bigger umbrellas .
Odaseva ’s focus , and success in quest after it , imply that there is still very much an chance left for players who do not take to that story .
“ The Odaseva squad has construct a guide data resilience platform for the Salesforce ecosystem that provides security and persistence solutions for commission critical applications , ” tell Shawn O’Neill , managing music director and group head of Silver Lake Waterman , in a statement . “ Sovan and the Odaseva leadership squad have a whole track record of construction value and trustfulness with global enterprise client and we are frantic to collaborator with the team and help drive further growth . ”
