As 2024 comes to a close, the proverb – the days are long, the years are short – comes to mind. It was a year marked by one word for Concentric Ai – hypergrowth.
Data security was a top concern for many enterprises. Approximately 50% of prospects we spoke to brought up data security governance as an imminent project, with many going from initial engagement to POC to purchase within 3 months.
2024 was a banner year for Concentric AI:
- We grew 300% year over year
- We tripled our customer count
- We successfully raised our oversubscribed $45M Series B lead by Top Tier Capital Partners and HarbourVest Partners
- We are managing 100s of PBs of data for our customers
- We have customers across many industries, including financial services, healthcare, energy, technology, education, professional services, and food production, to name a few
- Our customers leverage us to help with everything from data classification outcomes to permissions and entitlement administration, to stale/duplicate data management, to securing Copilot rollouts
We announced several innovative and first to market product releases:
- Copilot risk reduction module: Monitors user questions to Copilot and data access requests made by Copilot to service those requests. In addition, it autonomously identifies risky data access scenarios by Copilot involving sensitive data such as PII, business confidential data, IP and financial data.
- User activity monitoring: Administrators can monitor user activity across on-prem and cloud environments, identifying anomalous activity such as downloads, views, modifications, and deletions, and take action to remediate those issues in order to prevent data loss
- Compliance risk manager: Out of the box monitoring and reporting for popular regulations and frameworks, enabling organizations to efficiently track their progress across multiple regulatory standards.
- DDR capabilities: Delivers critical data detection and response capabilities to identify risks to data as well as a way to secure sensitive information when employees leave the company
- Managed DSPM: The industry’s first managed data security posture management solution, providing resource constrained organizations with deployment and ongoing support by Concentric AI’s dedicated team of experts
As we approach the end of 2024, I can’t help but reflect on the convergence of events that have elevated data security to a top enterprise concern. When we founded Concentric AI in 2019, we felt strongly that data remains the most vulnerable threat surface. With data volumes growing exponentially, data sprawled across the enterprises cloud and on-premises data environments, and sensitive data now spanning everything from intellectual property to financial data to PII/PCI/PHI, we knew that there had to be a better way to protect your data than writing rules, matching regex patterns, or requiring an army of people to operationalize data security at scale.
Through this journey, we couldn’t be prouder of our achievements in helping our diverse set of customers to discover, monitor, and protect their data at petabyte-scale with ease.
Best regards,
Karthik Krishnan
Founder and CEO, Concentric AI
