# Concentric Software

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/concentric-software

- Industry: IT Security/Cybersecurity
- Headquarters: San Jose, US
- Website: www.concentric.ai
- Total disclosed funding: $58M
- Latest round: Series B (Oct 24, 2024)
- Investors on record: 9

## About

Concentric Software, Inc. specializes in data security solutions, providing organizations with advanced tools for data discovery, classification, and risk management to ensure compliance with critical regulations.Founded in 2018 in San Jose, US, Concentric Software, Inc. offers a Data Security Governance Platform designed to automate the protection of sensitive data. The company's founders, Karthik Krishnan, Madhu Shashanka, and Shankar Subramaniam, have backgrounds in technology and entrepreneurship. Concentric has successfully raised USD 43.50 mn in its Series B funding round on October 24, 2024, led by Top Tier Capital Partners and HarbourVest Partners, with participation from other notable investors. This funding brings the total amount raised to USD 43.50 mn, reflecting a current company valuation of USD 259.60 mn.Concentric AI's primary offering is the Data Security Governance Platform, which provides autonomous data discovery, classification, risk monitoring, and remediation. This platform helps organizations identify and safeguard sensitive information such as personally identifiable information (PII) and payment card information (PCI). The platform is utilized by healthcare organizations, financial institutions, and educational entities to ensure compliance with regulations like HIPAA and PCI DSS. The company markets its solutions in North America, Europe, and Asia-Pacific, addressing the growing demands for data security and compliance.Concentric AI generates its revenue through a subscription-based model for its Data Security Governance Platform, with clients typically signing annual contracts that offer varying service tiers based on their organizational needs. The company has established partnerships with technology providers to offer enhanced functionalities and managed services, tailoring its pricing to meet the requirements of different sectors, particularly healthcare and finance.Following its recent Series B funding of USD 43.50 mn, which will be utilized to enhance go-to-market strategies and accelerate innovations in data security, Concentric Software, Inc. plans to introduce new features to its Data Security Governance Platform in the upcoming year. Additionally, the company is targeting expansion into new geographic markets, particularly in Europe and Asia, by the end of 2025, aiming to reach a broader clientele in the data-sensitive sectors.

## Funding rounds

- Series B, Oct 24, 2024, $44M — HarbourVest Partners, Top Tier Capital Partners, Citi Ventures, Engineering Capital, Clear Ventures, Ballistic Ventures, Cyber Future
- Series A, May 11, 2022, $15M — Citi Ventures, Core Ventures Group, Homebrew, Engineering Capital, Clear Ventures, Ballistic Ventures

## Investors

- Citi Ventures (https://capitalatlas.ai/funds/citi-ventures) — Series A, Series B
- Core Ventures Group (https://capitalatlas.ai/funds/core-ventures-group) — Series A
- Homebrew (https://capitalatlas.ai/funds/homebrew) — Series A
- Engineering Capital (https://capitalatlas.ai/funds/engineering-capital) — Series A, Series B
- Clear Ventures (https://capitalatlas.ai/funds/clear-ventures) — Series A, Series B
- Ballistic Ventures (https://capitalatlas.ai/funds/ballistic-ventures) — Series A, Series B
- HarbourVest Partners (https://capitalatlas.ai/funds/harbourvest-partners) — Series B
- Top Tier Capital Partners (https://capitalatlas.ai/funds/top-tier-capital-partners) — Series B
- Cyber Future — Series B