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Press Release

Concentric Achieves 400-percent Growth in First Full Year of Shipping AI-based Data Access Governance Security Solutions in 2021

Gartner Cool Vendor in 2021 Secured Customers across Industries with Data Security and Compliance Concerns, Including Healthcare, Financial Services, Manufacturing, and High Tech

SAN JOSE, Calif., Jan. 19, 2022 — Concentric Inc., a leading vendor of intelligent AI-based solutions for protecting business-critical data, today announced a record year for 2021, which saw sales grow by 400-percent in the first full year of availability for its data security and access governance solution. The company saw rising sales traction across the board, particularly in industries with heightened data security and compliance concerns, including healthcare, financial services, manufacturing, and high tech.

Concentric secures data-centric work using AI to protect business-critical information hidden in the millions of files and databases used by today’s distributed workforce. The company’s unique deep learning solution autonomously and accurately finds sensitive content, assesses risk, and remediates security issues, allowing organizations across industries to meet their data security needs for the first time.

“Concentric’s first full year of shipping was an outstanding success,” said Karthik Krishnan, Concentric CEO. “Semantic Intelligence™ helped a wide variety of organizations categorize data and assess risk to meet their data security needs. We advanced the art of data security with innovative new product capabilities, were recognized by leading industry analysts, and launched partnerships with industry leaders. In 2022, Concentric will continue delivering powerful new deep-learning technologies, expand our partner portfolio, and help even more customers manage risk and protect data.”

Industry Recognition
Last year Gartner recognized Concentric in the 2021 list of Cool Vendors in the “Cool Vendors in Privacy”1 report. Gartner’s Cool Vendor report does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services. Click here for more details on Concentric’s selection.

In 2021, Concentric was named a winner of the Gold Award as the Top Startup of the Year in the 16th Annual IT World Awards® program, while the Global AIFinTech100 recognized Concentric for its unique use of AI to protect business-critical data for financial services firms. The company won the Global InfoSec Award from Cyber Defense Magazine (CDM) during RSA Conference 2021, and it was a winner of Business Intelligence Group’s 2021 Artificial Intelligence Excellence Award. Concentric was also named an SC Media 2021 Excellence Award Finalist for Rookie Security Company of the Year, and won the Cybersecurity Rising Star Award in the Channel Partner Insight (CPI) Channel Innovation Awards 2021 program.

Product Innovation
Concentric introduced several major updates to its Semantic Intelligence™ data access governance solution in 2021, including:

• User360™, a unique analysis capability providing powerful insights into user-related risks;
• A new Ransomware Module that limits exposure to ransomware and reduces attack recovery times;
• Risk Distance™ analysis for automated and accurate risk assessment and prioritization; and
• Concentric MIND™, the industry’s first deep learning-as-a-service capability that catalogs and curates available AI models for best results at the point of use

Industry Engagement
In 2021, Concentric engaged with industry leaders to extend Semantic Intelligence across a wide variety of existing platforms and solutions, such as:

• As a member of the Microsoft Intelligent Security Association (MISA), Concentric offers a proven integration with Microsoft Information Protection services;
• Concentric is a part of the Box Technology Partner program, working with Box’s Content Cloud to provide seamless content discovery, data categorization, and risk assessment; and
• Integrations with Microsoft SQLServer, PostgreSQL, Nutanix, DellEMC, Oracle Database, MySQL, Windows Server, Google Drive, and Dropbox mean customers can now easily incorporate Concentric’s leading data security solution across their cloud and on-premises data stores.

Concentric’s Semantic Intelligence™ automates unstructured and structured data security using deep learning to categorize data, uncover business criticality and reduce risk. Its Risk Distance™ analysis technology uses the baseline security practices observed for each data category to spot security anomalies in individual files. It compares documents of the same type to identify risk from oversharing, third-party access, and wrong location or misclassification. Organizations benefit from the expertise of content owners without intrusive classification mandates, with no rules, regex, or policy maintenance needed.

Note 1 – Gartner, “Cool Vendors in Privacy,” by Bernard Woo, Bart Willemsen, Michael Hoeck, October 21, 2021

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Gartner does not endorse any vendor, product, or service depicted in our research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Concentric
With Concentric, organizations can finally address their unmet data security needs by discovering and protecting business-critical content. Concentric protects intellectual property, financial documents, PII/PCI content, customer data, business confidential data and more, across on-premises and cloud-based data stores. The Concentric Semantic Intelligence™ Data Access Governance solution uses deep learning and Risk Distance™ analysis to accurately categorize data, assess risk, and remediate security issues – without relying on upfront rules or complex configuration. Concentric is venture-backed by leading Silicon Valley VCs and is headquartered in San Jose, Calif. For more information, see https://www.concentric.ai.

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Concentric™, Semantic Intelligence™ and Risk Distance™ are or may be registered trademarks of Concentric AI, Inc. All other marks and names mentioned herein may be trademarks of their respective companies.

Contact
Dan Spalding
[email protected]
(408) 960-9297