Egress, a provider of data privacy and compliance software designed to secure unstructured data, raised $40m in Series C financing.
The round was led by FTV Capital, with participation from existing backer AlbionVC. As part of the transaction, FTV partner Kyle Griswold will join the Egress board of directors.
The company intends to use the funds to build on its ongoing rapid growth in Europe and North America, as well as accelerate development of new technology across its data security platform.
Led by Tony Pepper, CEO, and Neil Larkins, CTO, Egress provides enterprises with an AI-powered platform to protect unstructured data to meet compliance requirements and drive business productivity. The company’s AI-powered solution enables users to control and secure the data they share in line with compliance regulations, including GDPR, the NYDFS Cybersecurity Regulation (23 NYCRR 500), and the California Consumer Privacy Act.
The platform provides email and document classification, accidental send prevention, email and file protection, secure online collaboration and audit and compliance reporting.
It is used by over 2,000 enterprise organizations and governments around the globe.
The company has offices in London, UK, Boston, USA, and Toronto, Canada.