Protective intelligence software provider Ontic has secured $40m from a Series B funding round.
The round was led by JMI Equity and also saw participation from Felicis Ventures, Ridge Ventures and Silverton Partners. Following this funding round, the company has raised close to $58m in financing to date. In 2020, Ontic netted $12m in its Series A.
Ontic markets a software-as-a-service-based platform – the Ontic Protective Intelligence Platform – collects and connects threat indicators to provide a comprehensive view of potential threats while surfacing critical knowledge in order to help companies assess and action more to maintain business continuity and reduce financial impact.
According to Ontic, the new investment will be used to fuel the expansion of its footprint in new market segments and geographies while speeding up product development, adding staff across various teams and establishing new partnerships.
The company claims it has experienced ‘exponential growth’ since its inception in 2017. Ontic secured a 257% CAGR over the last two years and has launched over 300 new features and product enhancements over 2021 alone.
Ontic co-founder and CEO Lukas Quanstrom said, “We are at an inflection point where unmanaged and rising security threats are pushing the boundaries of corporate risk and negatively impacting business continuity. The days of succeeding in protecting organizations with multiple solutions are over. The Ontic Platform is what’s needed to close the intelligence gap, bringing together real-time threat detection, management of cases and investigations, incident management and conducting of assessments all in one solution for enhanced collaboration across teams and a safer environment for all.”
JMI general partner Bob Nye added, “Ontic is completely reshaping the ability for corporations to proactively identify, assess and track potential threats, also known as protective intelligence. We believe passionately in the Ontic mission and are thrilled to partner with the management team to build momentum and scale.”
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