RedOwl Analytics announced Tuesday the closure of a $4.6 million round of Series A financing.
The list of nationwide investors included Salesforce.com chairman and CEO Mark Benioff, the Propel Baltimore Fund and Under Armour founder Kevin Plank (through his Sagamore Ventures). It was also the first investment for TEDCO Capital Partners’ new Veterans’ Opportunity Fund, as we reported this morning.
“We are building RedOwl on the premise that internal oversight across financial services and beyond is primed for disruption,” RedOwl cofounder and CEO Guy Filippelli said in a release:
“We are witnessing a transformational shift in how corporations think about mitigating the risk they face from today’s digital and regulated world. Corporations have spent the last several years worried about their electronic devices and networks. With today’s regulatory and enforcement environment, we’ve seen the focus shift to their own people. What’s critical is a more fundamental analytics-based approach – to be able to look holistically at the person. Nothing’s been done to tackle that need.”
RedOwl specializes in risk analytics. The company’s Reveal software can be used before or after a security breach to identify flaws in corporate IT. Though based in Federal Hill, RedOwl also has offices in New York City.