ForgePoint Capital and Prefix Capital Double-Down on Data Store and Object Security as Lead Investors
Symmetry Systems, provider of cutting-edge Data Store and Object Security (DSOS), announced a $15 million Series A funding round led by Prefix Capital and ForgePoint Capital, two premier venture funds investing in foundational and transformative technologies. The investment will support the company’s rapid growth in revenue, customers, and employees.
This latest funding round also featured participation from Accenture Ventures, and Symmetry Systems is now part of their Project Spotlight, its engagement and investment program that connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps. In addition, this round includes leading practitioners, such as Tom Gonser, Founder of DocuSign; Omkhar Arasarathnam, Engineering Director at Google Cloud; Bob Gleichauf, EVP at InQTel and ex-CTO at Cisco; David Tsao, VP of Security Engineering at Marqeta; and Sameer Sait, Chief Information Security Officer at Amazon Whole Foods.
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“At Symmetry, we believe that privacy enables individuals to have agency over their future, and that privacy and data security has to be built into infrastructure — cloud today and the edge tomorrow,” said Mohit Tiwari, CEO and co-founder of Symmetry Systems. “Our work guards what matters most — data — and enables security teams to see through complex cloud permissions, accesses, and data types over billions of data objects.”
In today’s hybrid cloud environment, data spans across databases, object stores, and data lakes. Users, developers, supply-chain vendors, contractors all get to data via a web of roles and applications. Symmetry Systems’ flagship solution, DataGuard, provides unified visibility into data objects across all data stores, answering data security and compliance questions that traditional cloud security tools cannot. For example, what data is affected by a compromised credential, or an exploited web-service, or an off-boarded analyst? DataGuard enables cloud- and security-operations to understand and systematically control data risks — defining the path to zero trust for data — while baking in compliance and incident response into infrastructure-as-code.
“We’re proud to be a founding investor with Mohit Tiwari and Casen Hunger. The experience of helping to build the team and product at Symmetry has been a joy and we’re excited to double-down,” said Will Lin, Managing Director & co-founder at ForgePoint Capital, “There is a white space in data security for the modern hybrid cloud world and Symmetry is well-poised to help customers gain visibility and manage the modern risks to data.”
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“At Prefix, we seek rare companies that can define new market spaces with transformational technology, vision, and execution,” said Byron Alsberg, co-founder and Managing Partner at Prefix Capital. “Mohit, Casen, and the Symmetry team are defining a critical area of cybersecurity that most enterprises barely understood only a few years ago.”
“We believe Symmetry Systems has an innovative, modern approach to data security that our clients will benefit from,” said Rex Thexton, who leads Accenture Security’s applied cybersecurity services globally. “Data is the backbone of any organization, and it is more important than ever as businesses continue to move workloads to the cloud that they have data stored securely with visibility into where it is stored. Offering unified visibility across hybrid cloud environments is a top priority for Accenture in helping our clients minimize risk with a solution that has security built in from the start.”
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