US-based enterprise security tool developer Odaseva has received $25m in a series B round featuring Salesforce Ventures, the corporate venturing arm of enterprise software publisher Salesforce.
The round was co-led by Eight Roads Ventures and F-Prime Capital, both subsidiaries of investment and financial services group Fidelity, and included venture capital firms Partech and Serena Capital.
Odaseva produces data governance tools to help companies meet privacy regulations when storing information across enterprise software platforms like Salesforce and Microsoft 365.
The series B cash will support a hiring drive intended to support Odaseva’s domestic and international growth, and it said it had now raised $40m in funding to date.
Partech led an $11.7m series A round for the company in February 2019 with backing from Salesforce Ventures and Serena Capital, which had previously invested an undisclosed amount in in 2017.
Michael Treskow, partner at Eight Roads Ventures, said: “Cloud adoption is facing new challenges as enterprises demand more assurance around compliance, operational risks and security.”