Concentric AI Raises $14.5M in Series A Funding

Concentric Inc., San Jose, CA-based vendor of intelligent AI-based solutions for protecting business-critical data, raised $14.5m in Series A funding.

TheRound was led by Ballistic VenturesParticipation from Citi VenturesCurrent investors and upcoming investors Core Ventures Group, Engineering Capital, Clear Ventures. InAs part of the funding, Ballistic Ventures’ Barmak MeftahJoin us Concentric’s BoardThis is Directors. Mr. MeftahAs the President of AT&T CybersecurityHe assumed the role of CEO after AlienVault’s acquisition. Under Mr. Meftah’s leadership, AT&T established itself as a cybersecurity leader and one of the world’s top-five largest managed security services providers (MSSPs).

TheThe company plans to use the funds for continued expansion of its corporate customer base through increased sales and marketing efforts, as well as to expand its solution to protect an expanding range of content, locations and use cases.

CoFounded by Karthik Krishnan (CEO), Madhu Shashanka (Chief Data Scientist), and Shankar Subramaniam(CTO, VP Engineering), ConcentricProvides an autonomous data security system that allows security professionals the ability to detect, evaluate, then remediate security problems. The Semantic Intelligence™ solution includes patented capabilities such as Risk Distance™ analysis for autonomous risk assessment and ConcentricMIND for an AIPolicy management/curation using the -assisted deeplearning model and policy management. ItProtects intellectual property, financial documents and PII/PCI contents, customer data, confidential data, and more across both on-premises data stores and cloud-based data storage.

FinSMEs

11/05/2022

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