Odaseva, a software firm that provides a data management platform for Salesforce, has raised €21m in a Series B funding round led by Eight Roads Ventures, with participation from F-Prime Capital, Partech, Serena, and Salesforce Ventures. The firm, which was founded in 2012, offers large enterprises a comprehensive data governance solution that provides data protection, data privacy, and data operations management capabilities. The solution is used by more than 30 million Salesforce users across a range of industries, including Dropbox, Boston Scientific, Heineken, and Toyota.
With the new funding, Odaseva plans to expand its team by recruiting over 100 new employees for its offices in San Francisco, Sydney, and Paris. Additionally, the company aims to broaden its product offerings to include other SaaS applications, including those offered by Microsoft and Google.
This latest funding round marks a significant milestone for Odaseva, which has now raised over €27m in total funding. The company has been rapidly expanding its customer base in recent years, driven by growing demand for data governance solutions that can help organizations comply with data protection regulations such as GDPR.
Eight Roads Ventures, the lead investor in this Series B round, is a global venture capital firm that focuses on investing in high-growth technology companies. F-Prime Capital is a venture capital firm that specializes in investing in technology, healthcare, and life sciences companies. Partech is a global investment firm that provides funding to early-stage startups, while Serena is a venture capital firm that invests in enterprise software companies. Salesforce Ventures, the investment arm of Salesforce, focuses on investing in startups that are building innovative solutions that leverage the Salesforce platform.