California-based data security startup Odaseva has recently secured $54 million in Series C funding, with Silver Lake leading the investment round. The funding will be used to enhance the company’s research and development capabilities, expand its product line, and strengthen its market presence.

Odaseva, founded by Salesforce architect Sovan Bin in 2012, focuses on providing robust support to clients facing stringent data residency regulations and evolving privacy laws globally. The recent funding will enable the company to cater to the increasing demand for compliance, failover management, and zero trust security technology.

With 154 employees, Odaseva aims to expand its operations in the U.S., a strategic market for the company. The funding round led by Silver Lake Waterman will leverage the network and experience of the investors to drive growth and success for Odaseva.

Bin, who led Salesforce’s architect team in Paris before founding Odaseva, highlighted the company’s unique virtual storage layer for data residency and end-to-end encryption capabilities. These features set Odaseva apart from other data security startups in effectively addressing customer needs for securing critical data and infrastructure.

The Series C funding will also support Odaseva in addressing the rising demand for data residency, sovereignty, and failover management by investing in compliance, confidentiality, integrity, and availability solutions. This will help the company comply with regulatory requirements such as the European Union’s GDPR and the Chinese Cybersecurity Act.

By partnering with major cloud providers and introducing new zero trust products for end-to-end encryption of cloud data, Odaseva aims to enhance data management agility and ensure compliance with evolving regulations. The company’s holistic approach to security, integrating backup, cyber defense, failover management, and compliance in a single platform, positions it as a leader in the data security space.

Odaseva’s zero trust approach is expected to revolutionize risk assessments and vendor relationships, reducing the need to trust third parties with sensitive data. By internally securing an organization’s strategic assets, the company aims to enhance its security posture and decrease dependence on external vendors.

Key metrics for evaluating the success of Odaseva’s Series C funding include net yield retention, gross margin, and deployment efficiency of its security solutions across customer entities. The company aspires to maintain a high net retention rate and further enhance its gross margins to achieve long-term success in the data security market.

Overall, the substantial investment secured by Odaseva will undoubtedly bolster its global expansion, research and development efforts, and overall market competitiveness, solidifying its position as a key player in the data security industry.

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