San Francisco-based enterprise-class security solutions provider Remediant has announced that it has raised $15 million in its series A round of funding. The investment round was led by Dell Technologies Capital (DTC) and ForgePoint Capital (FPC).
Remediant intends to use the fresh funding to expand its “marketing and field operations, product engineering, channel and customer success programs” to grow in the market. The company is a leading provider of Privileged Access Management (PAM) software.
The company has seen rapid growth in a short duration of time. Between 2017 and 2018, the company has seen its revenue quintuple. Further, its flagship product SecureONE has been adopted widely including by the Fortune 1000 enterprises in the fields of media, personal finance, healthcare, defense, and biotech.
Remediant’s offering was promising from the very beginning which was recognized by Lockheed Martin (company’s first customer). Recently, Remediant was named 2019 Gartner Cool vendor and also a Black Unicorn award winner by the Cyber Defense Magazine.
Tim Keeler, CEO and co-founder of Remediant said, “We’re grateful to have the support of Dell Technologies Capital and ForgePoint Capital to help us execute on our mission to change the PAM landscape, as we offer a new way to protect organizations from data theft via stolen credentials.”