Getvisibility, the Cork-based security start-up, has raised €10m in funding to invest in its fast-growing data visibility and protection software business.
Founded in 2018, the company uses artificial intelligence to manage clients’ data and enables them to have a single, unified view of all their structured and unstructured data in one place.
In essence, Getvisibility software aims to help companies make the most out of the data under their control by promoting best practice and governance.
The Series A funding round was led by Alpha Intelligence Capital and Fortino Capital, with participation from existing investor Sure Valley Ventures. Terry Chou of Alpha Intelligence will now join the company’s board of directors.
The fresh funding comes less than a year after Getvisibility raised more than €2m in a round led by former Eir chief executive Herb Hribar, who joined the start-up as its chair. Other backers included Sure Valley, Enterprise Ireland, Smarttech247, Pires Investments and Manifold.
The company has come a long way since its founding by Mark Brosnan and Ronan Murphy, who is also the founder and CEO of Cork cybersecurity business Smarttech247. Getvisibility now counts among its clients Fortune 500 companies and governments across North America, Europe and the Middle East.
Murphy said that 2022 is “shaping up to be a massive year” for Getvisibility as the platform accelerates its pace of innovation, R&D, sales and marketing.
“As enterprises urgently need to get to grips with data security, the machine learning capabilities of Getvisibility provide real tangible return on investment, better compliance capabilities and overall superior data security,” he said.
The company has particularly seen growth in regulated sectors such as healthcare, financial services and manufacturing, where there is an increasing need to protect data.
The funding will be used to invest in the company’s commercial team to meet this increase in demand. Getvisibility will also invest the funds in its engineering team to continue development of its machine learning technology and roll out its zero-trust suite of products.
Brosnan, who is CEO of Getvisibility, said that the funding is important in the start-up’s effort to extend its expertise in zero-trust architecture.
“Market response to our Synergy Pro and Focus product lines has been exceptional, and this funding enables us to build on the leadership position we have already established,” he said.
The funding is expected to help the company accelerate growth in Europe, the Middle East and North Africa, while enabling further expansion in its largest market – North America.
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