Concentric offers an AI-powered data inventory and protection platform that catalogs critical information across databases, storage buckets, email, messaging apps and even generative AI chatbots like Microsoft Copilot. Customers link Concentric to their data sources, after which the product finds sensitive items (passwords, private files, audio/video), traces data lineage, and provides recommendations to secure data and meet compliance standards. Concentric creates semantic representations of data rather than storing raw sensitive data, and surfaces anomalous activity for remediation. The company serves customers in industrial manufacturing, insurance and higher education, including Hagerty and DeVry University. Client base growth has been strong, with the company reporting a 300% increase from a year earlier. Management says the product roadmap and partner program will be expanded using new funding, and Concentric plans to grow headcount to 125 by 2025. Concentric AI offers an autonomous data security solution that helps organizations discover, evaluate, and remediate security issues across structured and unstructured content without large analyst teams or end-user involvement. The company targets the $19 billion market for data security, access governance, and loss prevention. Its technology leverages emerging deep learning methods, per the co-founders, to protect content across cloud and on-premises environments. Concentric’s co-founders are Karthik Krishnan (CEO), Madhu Shashanka (Chief Data Scientist), and Shankar Subramaniam (CTO and VP, Engineering). With the new funding, Concentric plans to grow its roster of corporate customers through expanded sales and marketing and to extend its solution to protect an expanding menu of content, locations, and use cases. The company positions itself as an autonomous alternative to labor-intensive data protection approaches.

Total raised

$60M

Funding rounds

2

Latest round

Series B

Latest activity

Oct 2024