US-based data protection software developer BlueTalon closed a series A round sized at more than $16m yesterday, securing funds from investors including Bloomberg Beta, the strategic investment arm of media firm Bloomberg.
The round was led by Maverick Ventures, the VC affiliate of hedge fund Maverick Capital, and included Arsenal Venture Partners, Signia Venture Partners, Data Collective, Divergent Ventures and Stanford-StartX Fund.
BlueTalon’s Policy Engine software provides user access to big data and new data platforms like Hadoop and Spark while allowing consistent data standards to be set across all platforms. Its Audit Engine lets users see who has accessed data and when, in order to investigate anomalies.
The funding will support the growth of BlueTalon’s development and sales teams, and Maverick Ventures managing director Matthew Kinsella will join the company’s board of directors.
Bloomberg Beta had previously invested in a $5m round for BlueTalon in February 2015 that included Signia Venture Partners, Biosys Capital, Stanford-StartX Fund, Divergent Ventures, Berggruen Holdings and Data Collective.
The company, which had secured $1.5m in a Data Collective-backed seed round in early 2014, raised a further $3.4m from undisclosed investors in July 2015.