SAN FRANCISCO — AppOmni, a provider of SaaS security, has raised $70 million in a Series C funding round to advance product development, fuel international growth, and scale go-to-market processes. The investment was led by Thoma Bravo, a leading software investment firm, with participation from existing investors, including Scale Venture Partners, Salesforce Ventures, ClearSky, and Costanoa Ventures. With this round, AppOmni has raised $123 million in total funding to date.
Software as a service (SaaS) adoption continues to grow at a rapid pace, with Gartner forecasting global SaaS spending to reach $176.6 billion this year. As companies move their sensitive data and critical business processes to the cloud, they need a better way to secure their SaaS environments.
This year alone, SaaS data breaches have affected some of the largest and most widely used SaaS applications. Millions of data records have been exposed and companies large and small are quickly grasping the urgency of securing their data.
AppOmni protects more than 78 million users across a broad range of SaaS platforms and has secured more than 230 million exposed data records. AppOmni’s SaaS security management software provides cost savings by speeding up development processes and enabling security and IT teams to secure more of their tech stacks with fewer resources.
“The high-profile SaaS breaches we’ve seen in recent months highlight the urgency CISOs are facing,” said Brendan O’Connor, CEO and co-founder at AppOmni. “Customers and prospects across industries tell us the same thing: security teams need better visibility into their SaaS environments and automated tools to adequately secure their quickly growing SaaS ecosystems. I founded AppOmni to deliver the security solution that I wish I had while leading security teams at Salesforce and ServiceNow. I am excited to partner with Thoma Bravo and our existing investors to further enhance and scale our solutions so we can help more organizations across the globe to secure their entire SaaS environments.”