Exonar receive significant backing from Beringea
Newbury-headquartered cyber security company enables companies to understand immediately what data is held where across billions of emails, digital archives, documents and databases.
Data privacy platform Exonar has secured £6.5 million in funding.
The Newbury-headquarteredcyber securitycompany enables companies to understand immediately what data is held where across billions of emails, digital archives, documents and databases – a valuable tool following the introduction ofGDPRlast year.
For example, if someone put a subject access request into a bank, it would be able to see instantly what information was held in what documents and create a plan to update or delete them.
Transatlantic venture capital investor Beringea,which is planning to deploy £80m in UK businesses, led the investment with participation from Downing Ventures, the early-stage investor, alongside notable existing investors Amadeus Capital Partners and Winton Ventures.
Beringealed a £9m investment round into FinTech company AccessPayrecently.
Exonar founder Adrian Barrett has previously worked for Cisco and global network data specialist Lumeta.
“These are exciting times for Exonar. To receive significant backing from Beringea and Downing Ventures reinforces our belief that the Exonar platform has a significant role to play in enterprise-level data discovery and management,” he said.
“We have a clear vision for future development and the investment will enable us to further enhance our product, enabling our customers to meet current and future data demands such as GDPR and CCPA swiftly, simply and at scale.
“Data is the backbone of modern business. And yet, it also poses an existential risk, which has traditionally required substantial resources and investment to manage.
“Exonar transforms this dynamic with a platform that maps and understands petabytes of information in seconds.”