DoControl, the automated Software-as-a-Service (SaaS) security company, has raised a $30 million Series B funding round led by New York-based global private equity and venture capital firm, Insight Partners, with participation from its existing investors, including StageOne Ventures, Cardumen Capital, RTP Global, and CrowdStrike’s early stage investment fund, the CrowdStrike Falcon Fund.
According to DoControl, the new funding is a testament to its rapid enterprise adoption and ability to prevent data loss without slowing down business enablement. Its Series B will help the company scale its SaaS data security innovations, launch strategic channel and partnership programs, and supercharge its global growth.
The investment from Insight Partners will enable DoControl to double its headcount and advance its go-to-market penetration in the United States and beyond. DoControl is also planning to develop a national channel partner program to enable MSPs, resellers, and other key partners to provide Zero Trust SaaS data access control capabilities to a broader user base. Most importantly, DoControl will leverage its funding to develop innovations that meet the needs of modern businesses reliant on SaaS tooling while extending its use cases to new vertical markets.
DoControl mitigates the risk of costly data breaches created by unmanageable data across popular SaaS applications. Gartner estimates that SaaS spending will outpace Infrastructure-as-a-Service (IaaS) spending in 2022 by 41%.