Singapore-based AI-powered data protection company, Dathena says it’s closed a $US12 million Series A funding round, amid a surge in remote working due to coronavirus.
It comes as cyber security experts across the globe warn organisations of an increase in email-based threats, endpoint-security gaps and other issues as a result of the sudden switch to a fully remote workforce.
The funding round was led by Jungle Ventures, and also included CapHorn and SEEDS Capital, an investment arm of Enterprise Singapore, along with existing investors, Cerracap Ventures and MS&AD Ventures.
Dathena says its data privacy and security solutions have become increasingly vital for companies, amid growing economic uncertainty and heightened data security risks relating to the rise in remote working post coronavirus.
Jungle Ventures’ Founding Partner, Amit Anand says the deep tech company is poised for rapid growth.
“Dathena’s global growth positions the tech leader to capitalise on the rapid evolution of the $US120 billion data protection market,” he says.
The new funds will see Dathena further expand global operations, following the recent opening of the US headquarters in New York, as well as supporting the company’s expanding R&D efforts.
“This Series A funding round will help us accelerate our product development and go-to-market efforts,” Dathena’s Founder and CEO, Christopher Muffat says.