Concentric AI Announces $45M Series B Led by Top Tier Capital Partners and HarbourVest Partners

Gunderson Dettmer represented client Concentric AI, a leading vendor of intelligent AI-based solutions for autonomous data security posture management (DSPM), in its $45 million Series B financing led by Top Tier Capital Partners and HarbourVest Partners. Concentric AI protects intellectual property, financial data, PII/PCI content, customer data, business confidential content and more, across on-premises and cloud-based data stores. The new capital will enable Concentric AI to expand its go-to-market strategies and accelerate its industry-leading data security innovations to further cement its leadership position in the AI-driven Data Security Governance market.

In the announcement of the transaction, Concentric AI Founder and CEO Karthik Krishnan said, “Operationalizing data security remains a huge challenge for enterprises and Concentric AI has now demonstrated across diverse verticals and companies of all sizes that its Semantic Intelligence solution helps enterprises easily discover, monitor and protect their most sensitive business critical data. This round allows us to significantly accelerate our go-to-market and engineering capabilities to meet the growing and pressing needs in the marketplace for AI-driven data security solutions to help address enterprises’ security and compliance requirements.”

The Gunderson Dettmer deal team was led by Trevor Knapp and included Travis Glock, Garrett Darling and Shagun Parekh.

Companies
Concentric AI
Top Tier Capital Partners
HarbourVest Partners