Active Navigation, a Reston, Virginia-based data privacy and governance software provider, announced that it has closed on a $11 million Series A funding round led by venture capital firm Mobeus.
We have some exciting news to share! We've raised an $11 million Series A. What are we planning to do with the capital? Our CEO, @Peter_J_Baumann, shares what our next chapter entails: https://t.co/EPhGFcTKh2 pic.twitter.com/Nj8iEuAlJM
— Active Navigation (@ActiveNav) November 20, 2019
The company first launched in the U.K. in 2008, but it launched its U.S. operations in 2012, Active Navigation Marketing Manager Niamh Bennett told Technical.ly. Active Navigation manages an on-premise platform that allows users to “map, clean, classify, quarantine and delete redundant, obsolete and trivial data.” The company helps its customers control their sensitive data while staying compliant with data privacy regulations including the General Data Protection Regulation and the California Consumer Privacy Act. Of its more than 100 clients, some of the startup’s notable clients include BAE Systems, the United States Marine Corps and Voya Financial.
“Consumers are demanding better protection of their personal information. As a result, there is a pressing need for companies to prioritize data privacy in all their business operations,” Active Navigation CEO Peter Baumann said in a statement. “Active Navigation has an exciting opportunity in front of it, which was the catalyst for this infusion of capital. This investment will help us to advance product development and scale rapidly to support our customers with data mapping, data minimization and regulatory compliance.”
Active Navigation reports that it will use this Series A funding to accelerate development of its SaaS-based product, scale operations and expand into New York and Los Angeles with remote offices and employees. Currently, the company has a 58-person team working out of its Reston headquarters, with some remote workers based out of its Europe and Australia offices.
With this transaction, Partner at Mobeus Trevor Hope will join Active Navigation’s board of directors.
“After extensive reviews of the vendor landscape, Active Navigation stood-out as a clear leader with remarkable product innovation, an experienced management team and an impressive list of satisfied customers,” Hope said. “We look forward to working with the Active Navigation team to further foster their growth trajectory and cement their position as a frontrunner in the rapidly growing data privacy market.”
The ScaleUp Group, a network of experienced tech entrepreneurs, helped Active Navigation secure the funding through expert guidance as the startup was seeking venture capital.
Though more positions will open up as the company plans to add to its team, Active Navigation is currently hiring for a sales executive and a professional services consultant to work out of its Reston office.-30-
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