The funding will help AppOmni fuel international expansion, enhance its go-to-market capabilities, and invest in product development. Here are the top-line bullets you need to know.
AppOmni, a SaaS security management startup, has raised $70M in a Series C. The round drew participation from ClearSky, Costanoa Ventures, Salesforce Ventures, Scale Venture Partners, and Thoma Bravo.
HOW’S THE COMPANY PERFORMING?
- California-based AppOmni helps businesses secure the data that resides in their SaaS applications.
- It has achieved triple-digit ARR growth each year for the past 3 years.
- The company’s client base includes organizations like Accenture, Ping, and Dropbox. The company has registered a customer retention rate of nearly 100% since it was founded in 2018.
- AppOmni’s solution protects 78M+ users on SaaS platforms, and it has secured over 230M exposed data records.
- The company integrates with hundreds of SaaS apps, including GitHub, Jira, Google Workspace, Microsoft 365, Salesforce, Slack, and Zoom.
- The AppOmni INFINITY Partner Program is expanding quickly — its North American and EMEA partner bases have grown 5x and 4x, respectively, since 2021.
WHY DOES THE MARKET MATTER?
- The global software-as-a-service (SaaS) market is expected to reach a value of $716.5B by 2028, growing at a CAGR of 27.5%, according to Fortune Business Insights.
- The demand for cloud-based solutions, such as workforce collaboration tools, has increased amid the pandemic-induced shift to remote workforce models.
- SaaS spending is projected to grow 9x over the next 10 years, and SaaS models are likely to deliver 80% of all business apps by 2031, according to Andréa Jacquemin, the CEO of AppOmni competitor Beamy.
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