Polymer, the cloud native No-Code Data Loss Prevention (DLP) solution for third party SaaS platforms, announced the completion of a $4 Million Seed round led by Story Ventures with participation from Indicator Ventures, Studio Ventures, Green Egg Ventures, Maccabee Ventures, and others including existing investors Tensility Ventures, Motivate Ventures and Inspiration Ventures. This brings Polymer’s total funding to $5 Million.
“As a data-focused venture capital firm, we have a front row seat to the challenge of protecting sensitive customer data. This is particularly apparent when Story portfolio companies use modern cloud applications that don’t have tooling to protect against sensitive data loss. Yasir Ali, CEO and founder, and Usman Malik, co-founder, are driving automation and innovation into the DLP space,” says Jake Yormack, Managing Partner at Story Ventures, who will be joining the board along with Baiyin Murphy, Partner at Indicator Ventures, and existing board member Ed Bellis.
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Polymer will use the investment to execute its vision of autonomous DLP for SaaS platforms to protect against the leakage of sensitive customer data. Polymer has multiple patents pending for its automated remediation technology that reduces human intervention and ultimately the total cost of ownership for data governance.
The company is leveraging a wave of growth driven by large enterprises upgrading their on-premise legacy DLP solutions and by SMEs buying their first DLP solutions. Polymer is securing organizations such as Edward Jones, Signify Health, Medly Pharmacy for data governance, insider threats and privacy regulations such as HIPAA, PCI, ISO 27001/27701.
“With Polymer we are able to largely remove the human loop for data loss prevention-the platform was easy to deploy, got us 90%+ accuracy in days and is saving us 8 hours of security team’s time,” says Mark Magpayo, Director IT of Signify Health.
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