Ontic has raised $40 million in a Series B round of funding to expand and fulfil its aim of making businesses safer by providing intelligence to those who protect them. JMI Equity, a growth equity fund focusing on investing in leading software firms, is heading the investment. The round was also attended by Felicis Ventures, Silverton Partners, and Ridge Ventures.
Since its introduction in 2017, Ontic has grown at a 257 percent compound annual growth rate (CAGR) during the last two years, with over 300 new features and product updates released in 2021 alone.
“We are at an inflection point where unmanaged and rising security threats are pushing the boundaries of corporate risk and negatively impacting business continuity. The days of succeeding in protecting organizations with multiple solutions are over. The Ontic Platform is what’s needed to close the intelligence gap, bringing together real-time threat detection, management of cases and investigations, incident management and conducting of assessments all in one solution for enhanced collaboration across teams and a safer environment for all,” said Lukas Quanstrom, Ontic co-founder and CEO.
The Ontic Protective Intelligence Platform is a game-changing breakthrough that is setting a new technical standard in protective intelligence for Fortune 500 and rising business security teams. Data from several channels is combined into a single always-on platform by the Ontic solution to detect, assess, and mitigate potential physical threats. Individual events are connected when studied collectively, resulting in a clearer and potentially bigger danger narrative than if they were reviewed independently.
“Ontic is completely reshaping the ability for corporations to proactively identify, assess and track potential threats, also known as protective intelligence. We believe passionately in the Ontic mission and are thrilled to partner with the management team to build momentum and scale,” said Bob Nye, General Partner at JMI.
Ontic has raised almost $58 million in total, including prior fundraising rounds. This fresh investment will be used to expand Ontic’s footprint into new industry categories and geographies, as well as to speed up product development, form new collaborations, and hire new employees across multiple teams.