AppOmni has raised $70 million in a Series C funding round to advance product development, fuel international growth, and scale go-to-market processes.
The investment was led by Thoma Bravo, a leading software investment firm, with participation from existing investors, including Scale Venture Partners, Salesforce Ventures, ClearSky, and Costanoa Ventures. With this round, AppOmni has raised $123 million in total funding to date.
Software as a service (SaaS) adoption continues to grow at a rapid pace, with Gartner forecasting global SaaS spending to reach $176.6 billion this year. As companies move their sensitive data and critical business processes to the cloud, they need a better way to secure their SaaS environments.
This year alone, SaaS data breaches have affected some of the largest and most widely used SaaS applications. Millions of data records have been exposed and companies large and small are quickly grasping the urgency of securing their data.
AppOmni protects more than 78 million users across a broad range of SaaS platforms and has secured more than 230 million exposed data records. AppOmni’s SaaS security management software provides cost savings by speeding up development processes and enabling security and IT teams to secure more of their tech stacks with fewer resources.
AppOmni fast facts:
- The AppOmni Developer Platform was announced in April 2022 and customers are already connecting their custom applications to incorporate AppOmni’s security functionality.
- The AppOmni INFINITY Partner Program is growing rapidly, with a 5x increase in North American partners and 4x increase in EMEA partners since 2021, and recently announced expansion into APAC.
- AppOmni’s customer base comprises both enterprise and mid-market companies, including global leaders in technology, healthcare, telecom, consumer products, banking, finance, and security.
- AppOmni has had an industry-leading customer retention rate near 100% since its founding in 2018.
- AppOmni has achieved strong triple-digit ARR growth each of the past three years.
“The high-profile SaaS breaches we’ve seen in recent months highlight the urgency CISOs are facing,” said Brendan O’Connor, CEO and co-founder at AppOmni. “Customers and prospects across industries tell us the same thing: security teams need better visibility into their SaaS environments and automated tools to adequately secure their quickly growing SaaS ecosystems. I founded AppOmni to deliver the security solution that I wish I had while leading security teams at Salesforce and ServiceNow. I am excited to partner with Thoma Bravo and our existing investors to further enhance and scale our solutions so we can help more organizations across the globe to secure their entire SaaS environments.”
“The digitization of businesses across all sectors has accelerated the need for reliable data protection and control, and AppOmni’s security solutions are unmatched in the industry,” said Robert (Tre) Sayle, a partner at Thoma Bravo. “We have been impressed by AppOmni’s rapid scaling, high levels of customer satisfaction and continued product innovation, and we’re thrilled to partner with Brendan and his team as they capitalize on the sizable market opportunity ahead.”
Thoma Bravo approaches each investment with a goal of helping management teams identify and drive incremental growth opportunities, as well as improve processes, to enable best-in-class operational and financial performance. Thoma Bravo has been focused on working with high growth market leaders since the firm first began investing in software in 2003. Robert (Tre) Sayle will join the AppOmni Board of Directors.
AppOmni delivers centralized visibility, unmatched data access management, and security controls that integrate seamlessly into any SaaS environment. Covered apps include Box, Confluence, Fastly, GitHub, Google Workspace, Jira, Microsoft 365, Salesforce, ServiceNow, Slack, Workday, Zoom, and many more. The AppOmni Developer Platform enables security coverage for any SaaS application, whether purchased from a vendor or built in-house.