Concentric Inc., a San Jose, CA-based vendor of intelligent AI-based solutions for protecting business-critical data, raised $14.5m in Series A funding.
The round was led by Ballistic Ventures, with participation from Citi Ventures, and current investors Core Ventures Group, Engineering Capital, and Clear Ventures. In conjunction with the funding, Ballistic Ventures’ Barmak Meftah will join Concentric’s Board of Directors. Mr. Meftah served as the President of AT&T Cybersecurity, a role assumed after the successful acquisition of AlienVault, where he led the company for six years as CEO. Under Mr. Meftah’s leadership, AT&T established itself as a cybersecurity leader and one of the world’s top-five largest managed security services providers (MSSPs).
The company intends to use the funds to continue to extend its existing roster of corporate customers through expanded sales and marketing efforts and extend its solution to protect an expanding menu of content, locations, and use cases.
Co-founded by Karthik Krishnan (CEO), Madhu Shashanka (Chief Data Scientist), and Shankar Subramaniam (CTO and VP, Engineering), Concentric provides an autonomous data security solution, which allows security professionals to discover, evaluate, and remediate security issues. The Semantic Intelligence™ solution includes patented capabilities such as Risk Distance™ analysis for autonomous risk assessment and Concentric MIND for an AI-assisted deep learning model and policy management/curation. It protects intellectual property, financial documents, PII/PCI content, customer data, business confidential data and more, across on-premises and cloud-based data stores.