Tizor Systems Inc., a Maynard, Mass.-based provider of enterprise data auditing and protection solutions for the data center, has raised $8.3 million in third-round funding. Longworth Venture Partners led the round, and was joined by Hummer Winblad Venture Partners, Masthead Venture Partners, Navigator Technology Ventures and Common Angels. The round officially closed last November.
Tizor Systems, the leading provider of enterprise data auditing and protection solutions for the data center, today announces that it has raised $8.3 million in a third round of financing. The round was lead by Longworth Venture Partners and included Hummer Winblad Venture Partners, Masthead Venture Partners, Navigator Technology Ventures and Common Angels. As part of the financing, a partner at one of Tizor’s venture capital backers made a substantial personal investment.
Tizor also announces that Nilanjana Bhowmik, Partner at Longworth Venture Partners, will be joining Tizor’s board of directors as part of this funding round.
The investment will fund future product capabilities and Tizor’s accelerating growth which has been fueled by compliance initiatives such as Sarbanes-Oxley (SOX), Gramm-Leach-Bliley Act (GLBA) and the Payment Card Industry (PCI) Data security Standard and the critical need for data protection brought about by heightened risk of data breaches involving data theft from core data servers.
In today’s challenging environment, companies are facing increased regulation and threats to critical data assets. Tizor’s Mantra represents a new generation of data auditing and protection technology. Unlike other products in the space, Mantra was designed from the outset for auditing and monitoring all activity touching core data stores. As a result, Mantra’s user interface and policy building capabilities dramatically lessen the customer requirements for putting a system into operation versus conventional options, and Mantra is the most scalable technology as companies look to monitor activity for hundreds or even thousands of databases.
“We view data auditing and protection as an extremely attractive area for investment,” said Nilanjana Bhowmik, partner, Longworth Venture Partners. “After working with Tizor for the last two years, we feel that they are in an excellent position, both in terms of management team and product offering, to lead this market.
“This market is accelerating because data auditing is a quick-to-implement, fast-time-to-results solution for a whole range of data security problems — from protecting private information to Sarbanes-Oxley and PCI compliance,” stated Joel Rosen, president and CEO of Tizor Systems. “The new investment will enable us to expand our engineering and sales and marketing teams and will help us fuel our aggressive growth plans.”
Tizor provides the world’s largest companies with the only enterprise data auditing and protection solutions capable of risk assessment, monitoring, reporting and alerting on all critical data activity across the enterprise data center — databases, file servers and mainframe applications. Tizor’s global enterprise customers include financial institutions, insurance companies, retailers, manufacturers, healthcare providers and airlines, among others. These companies rely on Tizor’s Mantra solutions to protect critical data assets, detect data breaches and provide data-related compliance, including SOX and PCI.
Headquartered in Maynard, Massachusetts, Tizor is a member of IBM’s Data Governance Council and the PCI Vendor Alliance. Visit Tizor’s Website at http://www.tizor.com or data auditing blog at http://blog.tizor.com .