From Customer to Investor: Scale Venture Partners Leads AppOmni’s $40 million Series B Round
Today AppOmni announced our $40 million Series B round led by Scale Venture Partners. Among our investors, Scale is unique in that it began its relationship with AppOmni as a customer well before becoming an investor. As the AppOmni team and I progressed through the fundraising process, we realized that Scale’s incredibly relevant expertise, impressive track record, and in-depth understanding of AppOmni’s product from a customer’s perspective make them the perfect partner for us as we enter our next phase of growth.
I founded AppOmni in 2018 after spending several years leading the security teams at Salesforce and then ServiceNow. While working at these SaaS leaders, I saw the challenges that SaaS clients were facing when it came to managing the usage, configuration, and data access across their expanding and heterogenous SaaS environments. There wasn’t an automated solution available to comprehensively protect these environments and continuously monitor access to business-critical SaaS data. So I founded AppOmni to do just that.
Three years later, AppOmni has emerged as the leader in SaaS Security Management. I’m honored that both Salesforce Ventures and ServiceNow Ventures are now AppOmni investors, and are participants in the series B round. We’ve experienced incredible growth – over 900% growth in ARR last year – and now protect global leaders across technology, finance, banking, and healthcare, as well as many of the most respected cybersecurity firms. But the measure I’m most proud of is the fact that we have yet to lose a customer. We’re fanatical about customer success and the fact that we’ve had 100% customer renewal – most with a significant expansion – is the strongest validation of the value we provide, and is a testament to the enormous potential in the SaaS security market.
I’ve never been more excited about the future of AppOmni and the future of enterprise SaaS. As businesses accelerate their adoption of SaaS platforms, and SaaS functionality grows increasingly powerful, AppOmni will be there to empower security teams to defend their companies and their customers from a new wave of security threats. Our goal is to better secure SaaS data by taking away the overwhelming task of manually securing multiple SaaS platforms. We make SaaS security automated, repeatable, and scalable for security teams and IT.
When it comes to cloud security and data access, it’s easy to shoot yourself in the foot with a cannon. Well-meaning employees – who are just trying to get their jobs done – can easily expose extremely sensitive data or unintentionally create significant risk and liability for their organizations through configuration errors. While AppOmni provides in-depth detection and monitoring for security and IT teams, we also create simple guardrails for line of business users to prevent well-meaning people from inadvertently creating major security issues.
SaaS is the present and the future, and we’re here to help our customers use it to its fullest potential. I offer an incredibly sincere thank you to: Scale, Salesforce, ServiceNow, ClearSky, Costanoa, Silicon Valley Data Capital, and all of our investors, advisors, customers, team members, partners and supporters. The past three years have been an incredible journey, but I’m even more excited for what comes next. We are just getting started.