Sunday, June 16 2024

Symmetry Systems, a next-generation AI-powered data-centric security company, announced a $17.7 million inside round of funding with repeat participation from ForgePoint Capital and Prefix Capital and new participants W11 Capital Management and TSG, a channel-focused strategic investor.

Symmetry Systems’ mission is to protect the world’s data, ensuring resilience and enabling modern data-centric companies to grow, innovate, and confidently lead. The world today has two massive tailwinds. First, organizations are doing incredibly sophisticated things with data, from data lakes to generative AI. Second, in the cloud, data, and identity become the main points of security controls versus infrastructure and applications. This means data-centric organizations will have to build security around data and the identities that use it. And that’s Symmetry’s focus.

“It’s extremely gratifying to see that after 15 years of research, data flows have a central place in enterprise cloud security. Spectacular data applications need a new kind of security — as long as we provide great visibility into every data object, who has access to it, and what they’re doing with it, we can enable safe and agile innovation within modern companies where everyone can collaborate confidently,” said Mohit Tiwari, Co-Founder and CEO of Symmetry Systems.

Organizations must unlock their data to be agile and resilient and survive in a remote-first, generative AI era. Yet organizations do not even know what data they have, who can access it, or how it is used. As a result, data is either locked away in regulated vaults or exposed to unmanaged risk in cloud and data lakes. Symmetry enables that data to flow – across business units and into the cloud and data lakes – faster and safer than ever before. Partners, including managed security service providers, incident response teams, and GSIs such as Accenture, turn to Symmetry to proactively harden their customers’ data against risks and respond with data-object level precision within minutes when an incident does occur.

Data – what to keep around, who to share it with, and how to use it – is everyone’s business in an organization. As a result, an effective data security solution must evolve beyond a security experts-only product to become a collaborative tool for both security and business (including developer and data) teams. Symmetry is building an LLM-based natural language interface where even a business user without deep cloud expertise can understand what data and actions create a security or compliance risk and what options can iteratively improve data risk through a sequence of plain language prompts.

Byron Alsberg, Co-Founder of Prefix Capital, stated, “Symmetry is one of those rare companies that knows how to build deeply technical products to solve very difficult and complex problems for its customers. When you see an opportunity like this, you double down.”

“In the data access governance space, Symmetry DataGuard differentiates itself with its ability to analyze data objects and identities previously missed by traditional solutions so security teams can accurately contextualize the risk of the data in their environment,” said Katherine Walther, VP, Innovation at Trace3. “We look forward to bringing this innovative approach to our clients and organizations who still find themselves grappling to find efficient and effective ways to meet data security policies and compliance regulations.”

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