# Baffle

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/baffle

- Industry: Software
- Headquarters: Santa Clara, US
- Website: www.baffle.io
- Total disclosed funding: $31M
- Latest round: Series B (Jul 28, 2021)
- Investors on record: 12

## About

Baffle Inc. is a data protection company specializing in tokenization, de-identification, and encryption solutions to safeguard sensitive information across diverse IT environments.Founded in 2015 in Santa Clara, US, Baffle Inc. focuses on providing robust data security solutions. The company was founded by Ameesh Divatia, Elijah Abiade, and Priyadarshan Kolte, who aim to address the challenges of data privacy. In July 2021, Baffle raised USD 20.70 mn in Series B funding led by Celesta Capital, with participation from various investors including Alumni Ventures Group and True Ventures. The funding round provided the total amount raised to USD 20.70 mn, and the current company valuation is USD 63.61 mn.Baffle offers an advanced data protection platform specializing in data tokenization, de-identification, and encryption solutions designed to secure sensitive information across various IT environments. The core product suite includes unique features such as Bring Your Own Key (BYOK) capabilities, Real Queryable Encryption, and a no-code data protection service, facilitating seamless integration and compliance within organizations. Baffle's technology is particularly valuable in sectors such as finance, healthcare, and SaaS, where it addresses critical use cases related to securing unstructured and structured data, enabling regulatory compliance, and enhancing data privacy. The platform serves a diverse client base, including financial institutions, industrial manufacturers, and communications providers, with its products deployed in regions such as North America, Europe, and Asia-Pacific.Baffle operates on a subscription-based revenue model, providing its clients with tailored solutions for data security across their operations. Transactions typically stem from multi-year agreements with enterprises seeking to implement Baffle's comprehensive data protection services, which include encryption and tokenization features. Client engagements often involve onboarding, training, and ongoing support, ensuring effective implementation across their infrastructures. The company’s flagship offerings, including its data proxy solutions and BYOK capabilities, are designed for enterprise-level clients, establishing long-term partnerships that enhance customer loyalty and retention. Revenue is generated through both direct sales and strategic partnerships, positioning Baffle as a leader in the data security market while enabling clients to maintain control over their sensitive information.In the near term, Baffle Inc. aims to utilize the USD 20.70 mn raised in Series B funding to expand its product development initiatives and meet growing market demand. The company plans to double its workforce from 25 to 50 employees over the next 12 months to support this growth. Additionally, Baffle is exploring opportunities to penetrate new markets, specifically targeting regions within Europe and Asia-Pacific, with plans to launch new product offerings designed to enhance data security solutions by early 2023.

## Funding rounds

- Series B, Jul 28, 2021, $21M — Greenspring Associates, True Ventures, Alumni Ventures Group, Engineering Capital, Clearvision Ventures, Celesta Capital, Lytical Ventures, National Grid Partners, Nepenthe Capital
- Series A, Dec 20, 2017, $7M — Industry Ventures, True Ventures, Thomvest Ventures, Engineering Capital, Clearvision Ventures, ServiceNow Ventures
- Seed, Jul 6, 2016, $3M — True Ventures, Engineering Capital
- Seed, Jul 2, 2015, $0.5M — Engineering Capital

## Investors

- Engineering Capital (https://capitalatlas.ai/funds/engineering-capital) — Seed, Series A, Series B
- True Ventures (https://capitalatlas.ai/funds/true-ventures) — Seed, Series A, Series B
- Industry Ventures (https://capitalatlas.ai/funds/industry-ventures) — Series A
- Thomvest Ventures (https://capitalatlas.ai/funds/thomvest-ventures) — Series A
- Clearvision Ventures (https://capitalatlas.ai/funds/clearvision-ventures) — Series A, Series B
- ServiceNow Ventures (https://capitalatlas.ai/funds/servicenow-ventures) — Series A
- Greenspring Associates (https://capitalatlas.ai/funds/greenspring-associates) — Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B
- Celesta Capital (https://capitalatlas.ai/funds/celesta-capital) — Series B
- Lytical Ventures (https://capitalatlas.ai/funds/lytical-ventures) — Series B
- National Grid Partners (https://capitalatlas.ai/funds/national-grid-partners) — Series B
- Nepenthe Capital (https://capitalatlas.ai/funds/nepenthe-capital) — Series B