French SaaS company Odaseva has raised $25 million in Series B funding to continue growing its data governance platform for enterprise. The round was led by Eight Roads Ventures with new investor F-Prime Capital and included previous backers Partech, Salesforce Ventures and Serena.
“The Odaseva team started their journey focused on a major problem for large-scale Salesforce customers, helping them through their move to the cloud,” explains Reza Malekzadeh of Partech.
Since the company launched in 2012, Odaseva has broadened the scope of data protection for large-scale Salesforce customers, ‘building their trust in the cloud’. Customers use Odaseva’s technology for everything from backing up and archiving data to ensuring data privacy.
The company claims three consecutive years of 100 percent revenue growth, driven by its expansion in North America and other international markets. During that time, the company doubled its headcount and added enterprises such as Dropbox, Boston Scientific and Manulife to a customer list that includes Heineken, Schneider Electric, Robert Half and Toyota.
"With the market potential, growth profile and unit economics, it is no wonder that Odaseva is one of the very few companies who managed to attract a US investor this year,” commented Marie Brayer, partner at Serena. The Series B brings the French company’s total funding to $40 million. With the fresh funding, the team will pursue a few growth goals: further product development; hiring in San Francisco, Sydney and Paris; and more partnerships.
Photo: Odaseva team