Active Navigation Secures $11 Million Series A Funding to Expand Product Suite and Fuel Growth
Led by Mobeus, the data privacy software company will use the investment to launch a new SaaS product and accelerate global expansion.
Active Navigation, a data privacy and governance software provider, announced [November 20, 2019] it has closed an $11 million funding round led by venture capital firm Mobeus. This investment comes on the back of Active Navigation’s strong growth, adding some of the world’s best-known brands such as BAE Systems, the United States Marine Corps and Voya Financial to its customer portfolio. Active Navigation will use the funds to accelerate the development of its new privacy-oriented SaaS product, scale operations and continue to expand internationally.
With the steady stream of high-profile data breaches, and revelations of monetization of personal data, consumers are increasingly concerned about how their personal information is being captured, shared, stored and deleted. The increase in global data privacy regulations such as the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States also reflects this societal change – with corporate data governance under increasing scrutiny.
Peter Baumann, Active Navigation’s CEO said: “Consumers are demanding better protection of their personal information. As a result, there is a pressing need for companies to prioritize data privacy in all their business operations. Active Navigation has an exciting opportunity in front of it, which was the catalyst for this infusion of capital. This investment will help us to advance product development and scale rapidly to support our customers with data mapping, data minimization and regulatory compliance.”
Trevor Hope, Partner at Mobeus (and incoming board member) added: “Data privacy has emerged as a rapidly growing technology category. After extensive reviews of the vendor landscape, Active Navigation stood-out as a clear leader with remarkable product innovation, an experienced management team and an impressive list of satisfied customers. We look forward to working with the Active Navigation team to further foster their growth trajectory and cement their position as a frontrunner in the rapidly growing data privacy market.”
The ScaleUp Group, a network of experienced tech entrepreneurs, was also an important partner in helping to secure the growth funding. They provided expert guidance to Active Navigation’s management team as they fielded multiple offers and financing types.
With the round closed, Active Navigation plans to open offices in New York and Los Angeles, increase headcount and expand its network of technology and services partners.
About Active Navigation
Active Navigation is a data privacy and governance software company. Its product suite enables enterprises and government entities to map, clean, classify, quarantine and delete redundant, obsolete and trivial data. Hundreds of companies and government agencies trust Active Navigation to help them control sensitive data and support compliance with various data privacy regulations such as CCPA and GDPR. Active Navigation Inc. is headquartered in the D.C. Metro area and has offices in Europe and Australia. For more information, please visit ActiveNavigation.com or follow the company on Twitter and LinkedIn.
Read the original release at Active Navigation Secures $11 million Series A Funding to Expand Product Suite and Fuel Growth
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