Digital Guardian, a US-based data protection software provider backed by corporates Siemens and Massachusetts Mutual Life Insurance, has raised $30m in a round led by private equity firm LLR Partners.
The round also featured undisclosed existing investors, and it increased the company’s funding to approximately $173m altogether.
Founded in 2003, Digital Guardian has developed a software platform that enables businesses to protect data in compliance with regulations such as GDPR and the California Consumer Privacy Act.
The technology works across an organisation’s network as well as cloud applications, mobile devices and traditional endpoints, detecting and responding to potential threats to sensitive data.
Mordecai Rosen, Digital Guardian’s chief executive, said: “We are seeing increasing demand from organisations around the world for next-generation data protection solutions that secure sensitive information against both insider threats and external attacks.
“With this strategic investment and new leadership at the helm, we will be able to successfully capitalise on the growing demand by accelerating product development and innovation.”
Digital Guardian secured $66m in a 2016 funding round featuring Siemens Financial Services and MassMutual Ventures, subsidiaries of industrial product and appliance manufacturer Siemens and insurer Massachusetts Mutual respectively.
Power and industrial technology producer General Electric’s GE Pension Trust also took part in the 2016 round, as did LLR Partners, Fairhaven Capital Partners, Loring Wolcott & Coolidge, Special Situation Funds and Brookline Venture Partners.
GE Pension Trust had led a $12m round for the company two years earlier, investing alongside Brookline Venture Partners, after providing $15m for a $28.9m round in 2011.