AXA Venture Partners backs DocAuthority
DocAuthority , the data governance platform built for both technical teams and business users, announced that it has raised a $3.25 million Series A-1 funding round led by AXA Venture Partners . Returning investors Venture Capital and 2B Angels, along with UpVentures Capital, also invested. Manish Agarwal, General Partner-New York at AXA Venture Partners, will join the Board of Directors. The funds will be used to support the company’s growth within existing markets and expansion into new ones.
“You cannot protect what you cannot find. Especially because of today’s distributed workforces, our customers use our software to identify vulnerabilities to malicious actors. No one else can work with unstructured data as effectively and efficiently as can DocAuthority, and our customers find great value in the software. We also find that most of them are able to reduce their data storage costs by identifying and eliminating duplicate and obsolete files. We think of ourselves as a profit center for our customers.” – Colin Woodland, DocAuthority’s CRO.
“We are proud to be our customers’ first line of defense in their overall strategy to live up to customer and legal demands. We truly look to form a partnership with our customers so we can better understand their goals. That is why we are proud to have AXA Venture Partners as an investor in that vision. They understand the commercial needs created by today’s regulatory environment and their guidance will allow us to leapfrog our competitors as we address real world business demands.” – Steve Abbott, DocAuthority’s CEO.
“we are thrilled to be joining the DocAuthority team. Their product is not a ‘niceto-have,’ it is a ‘need-to-have,’ and their rapid growth and marquis customers attest to the high quality services the company offers. With DocAuthority’s focus on protecting its customers from attack, complying with government mandates and saving data storage costs, we are glad to work with Steve and his team to help grow the organization.” – Manish Agarwal, General Partner-New York at AXA Venture Partners.