Avanan, a NYC-based enterprise security provider for SaaS-based email and collaboration platforms, raised $25m in Series B funding.
Backers included StageOne Ventures, Magma Venture Partners and Greenfield Partners (a TPG Growth investment platform).
The company intends to use the funds to further accelerate its growth.
Led by CEO and Co-founder Gil Friedrich, Avanan provides a security solution for cloud-based email, messaging and collaboration. Deploying in minutes, the company’s multi-vendor security solution leverages technologies to help companies secure the full Office 365 suite, G Suite, Box, ShareFile, Slack and other collaboration SaaS applications from advanced threats such as phishing, malware, data leakage, account takeover, and shadow IT.
Within the platform, customers can purchase predefined bundles containing security technologies from Avanan and Avanan’s partners, or selecting the exact technologies and vendors they want to use in each category.
The company sells its solution under the Avanan label as well as through several white-label OEMs with some of the leading IT security vendors.