BALTIMORE, June 24, 2014 /PRNewswire/ — RedOwl Analytics, a company that applies analytics to internal corporate data streams for proactive risk oversight, announced the closing of their Series A financing with $4.6 million of new funding. Investors include Marc Benioff, Salesforce.com Chairman and CEO, Igor Sill of Geneva Venture Group, Under Armour CEO Kevin Plank (via Sagamore Ventures), Christian Lawless of Conversion Capital, Attractor Ventures LLC, Propel Baltimore, and TEDCO’s new Veterans’ Opportunity Fund. The additional capital will help RedOwl accelerate product development and expand their client portfolio in the financial services, legal & investigative, and government verticals.
Since the company’s inception in late 2011, RedOwl’s mission has been to make sense of the ever-growing digital trail inside the firm through powerful analytics and insightful workflow – changing the face of security, investigations and compliance through technology. Today’s companies face increasing regulation, intellectual property risk, and overwhelming amounts of stove-piped data. RedOwl’s approach connects previously disparate corporate data sources, and exposes powerful search, discovery, and reporting.
“We are building RedOwl on the premise that internal oversight across financial services and beyond is primed for disruption,” said RedOwl CEO, Guy Filippelli. “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.”