SECURITY
SECURITY
SECURITY
Automated data governance and security startup ALTR raises $25M
Automated data governance and security startup ALTR Solutions Inc. today announced that it has raised $25 million in new funding to bolster its market position in the cloud data access governance and security market, fast-track go-to-market strategies, grow partner integrations and develop channel relations.
Founded in 2017, ALTR pitches itself as a single source for data access truth for users, with a platform that simplifies and unifies data governance and security on services such as Snowflake Inc.’s. The company’s service blends the needs of data and security teams into a single platform, delivering visibility into how sensitive data is used across the organization.
Claimed to be the only automated data access control and security solution that allows organizations to easily govern and protect sensitive data in the cloud, ALTR takes a “shift left” approach that ensures the protection of data throughout its journey, from the source system to the cloud to the data consumer, ensuring that data is secure in motion, at rest and in use.
At its core, ALTR allows database administrators, data engineers and data architects to drastically reduce manual tasks or hand them off completely to deliver greater value from their data more quickly.
The company claims to have seen strong growth, with hundreds of companies and thousands of users using its data governance platform to gain visibility into data usage. In the last year, ALTR has seen Snowflake Partner Connect activations increase by more than 425% and Snowflake-based annual recurring revenue grew by 472%.
“Data owners need to protect data during the entire journey from source systems to the cloud,” Jonathan Sander, former field security chief technology officer at Snowflake and ALTR Board member, said in a statement. “They now realize it isn’t sufficient to rely on securing data only after landing in a cloud data warehouse or analytical store.”
John Stafford III led the Series C Preferred financing round, with unnamed investors in the financial, medical and data space also participating. Including the new funding, ALTR has raised $55 million to date, according to data from CB Insights.
Image: ALTR
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