Data access management company Dymium announced that it has emerged from stealth and raised $7 million in funding. Two Bear Capital led this funding round ($5 million) and angel investors provided the rest ($2 million).
In connection with the funding round, Mike Goguen, founder and Managing Partner of Two Bear Capital, has joined the Dymium board. And Lou Pambianco, Tim Richardson, Melanie Corcoran, and Paul Temple have joined as advisors.
Dymium was created based on the concept that data should be accessed only when needed in the right context and format in real-time without having to deal with managing more data environments or being at risk for ransomware.
This funding round will be used to expand product development sales and marketing teams. And Dymium is rolling out into multiple market sectors, including healthcare, finance, defense and intelligence, and digital infrastructure providers where data security has especially high value.
Dymium’s data platform provides secure access to data where it lives. This eliminates the challenges of duplicating data into data warehouses or data lakes and makes it far more secure from hackers and thieves. Dymium combines a zero-trust architecture, centralized access policies, and AI and machine learning to ensure authorized users see only what they can see, regardless of their location.
The company was co-founded by three industry veterans with decades of zero trust experience. And Dymium CEO Denzil Wessels has focused his whole career on zero trust technology as he created Zscaler’s zero trust solution. And Igor Plotnikov (VP of Engineering) is the father of SSL VPN. Along with Valentyn Kamyshenko (CTO), they built the SSL VPN solutions at F5 Networks as well as Cisco Systems.
Dymium Platform is a session-aware data security platform that can get any user or application data in the desired format in real-time. And all data is governed by security and compliance policies that dynamically apply to all data access requests. This ensures that users see the right data and only the data they are entitled to see. The solution does not make copies of the data. Dymium applies data access policies and transformation in transit, eliminating the challenges associated with data duplication.
KEY QUOTES:
“The practice of copying data to provide teams with data in myriad formats, each with different access controls, policies, and security requirements, has led to unprecedented complexity that impedes innovation and undermines security and governance. Dymium eliminates the need to make copies of the data, allowing you to secure data where it lives. It provides greater agility and secure access to a single version of the truth using a zero trust architecture, centralized access policies, and real-time data transformation services.”
– Dymium CEO Denzil Wessels
“We know companies are drowning in data, but the amount they produce or acquire is only half the challenge. The other half is making it usable and accessible for different teams and audiences – business analytics, product development, AI initiatives, customer service, and partner programs. Dymium has taken a truly differentiated approach to solving this challenge, leaving data where it is and in its natural format so there are no new copies, no new data lakes, no cached data, no stale data. With real-time data privacy controls and data transformation services across heterogeneous data sources, Dymium enables companies to transform data management without transforming their data. Two Bear Capital is excited to work with Dymium to help it reach its full potential.”
– Cris Neckar, Venture Partner at Two Bear Capital and board observer at Dymium
