The funding was led by New York-based global private equity and venture capital firm, Insight Partners, with participation from its existing investors, including StageOne Ventures, Cardumen Capital, RTP Global, and CrowdStrike’s early-stage investment fund, the CrowdStrike Falcon Fund.
DoControl’s new funding will help the company scale its SaaS data security innovations, launch strategic channel and partnership programs, and supercharge its global growth.
The round is a testament to DoControl’s rapid enterprise adoption and ability to prevent data loss without slowing down business enablement, the company said in the announcement.
Founded in 2020 and headquartered in New York, DoControl is an automated data access controls platform for SaaS applications, improving security and operational efficiency with ease for enterprises.
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,” said Adam Gavish, co-founder and CEO, DoControl. “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. We are excited to partner with Insight Partners on this shared mission and help more organizations worldwide to prevent data breaches through security automation.”
“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,” said Stephen Ward, managing director at Insight Partners. “In my time as a CISO, I saw the importance of technology that quickly and effectively addresses these issues, and it’s why we’re proud to partner with DoControl as they continue to grow.”