Cloud data security company Sentra has announced the successful close of a $30 million Series A funding round led by Standard Investments and with participation from Munich Re Ventures (MRV) and others, bringing the 18-month-old company’s total capital raised to over $53 million.
Sentra, whose platform secures and optimizes cloud data and software, intends to use the new funds to increase its market presence, invest in its technology and partner ecosystem, and grow its team to meet the accelerating demand of its cloud-native data security solution around the globe.
“As we help our customers understand and protect petabytes of data, this capital will help us accelerate our plans to enable organizations to get the most out of their data by keeping it secured at all times,” said co-founder and CEO Yoav Regev. “This is just the beginning for Sentra. I am extremely proud of what our team has accomplished to date and look forward to achieving our shared goals in 2023 and beyond.”
According to estimates from management consulting company Gartner, over 95% of new digital workloads will be deployed on cloud-native platforms by 2025, up from 30% in 2021.
In control of the cloud
Amit Karp, partner at round participant Bessemer Venture Partners, highlighted the importance of being in control of cloud data, given its growing popularity. “The need for Sentra’s solution is going to continue to grow as organizations further embrace digital transformation,” he said. “In the 18 months since its founding, Sentra’s clear vision and operational efficiency have quickly translated into real value for customers, making its security solution critical to the modern cloud data stack.”
The company has also announced the addition of two board directors: Peter Marturano, Standard Investments’ technology sector head, and Oshri Kaplan, MRV’s managing director.
Marturano leads Standard Investments’ efforts in the technology, media and telecommunications sectors across both later-stage private and public markets. Kaplan is one of MRV’s lead investors across the cyber and insure-tech sectors and has worked with numerous early stage companies in the boardroom, helping them scale through partnerships and high-value growth initiatives.
Standard Investments’ Chief Digital Officer Yaron Ben David noted that the firm “[Looks] forward to working with the Sentra team,” especially given the rapid development of the space in which the start-up operates.
“With the growing complexity of securing information in today’s data-driven economy, Sentra’s experienced leadership team and impressive product innovation engine make them extremely well-positioned to address this urgent need at scale,” he said.