Borneo, a Singapore-based data security platform founded by former Uber and Facebook executives, has secured $15.5 million in fresh funding to continue investing in its technology platform.
The startup said Vulcan Capital, the Seattle-based investment arm of the late Microsoft co-founder Paul Allen, led the round, which brings Borneo’s total funding to date to $18 million.
Prosus Ventures, Lytical Ventures, and existing investors Wavemaker Partners also participated in the latest funding round.
Incorporated in 2018, Borneo is a privacy information and data management platform that offers security and privacy solutions for hyper-growth technology companies through real-time privacy data observability and insights.
Borneo’s unique approach integrates with existing tools and workflows and enables companies to achieve privacy compliance by building a solid data security foundation.
This allows security practitioners to utilize non-blocking workflows and fast-track remediation without hampering business teams operating in fast-moving and high-growth environments.
“Borneo is fast becoming the guardrails for the new data economy. We integrate with your existing security stack to provide the required privacy data intelligence and prevent data leaks and privacy violations that can result in multi-million dollar fines and erode end-user trust,” said Prithvi Rai, Borneo’s founder and CEO.
With over 100 years of combined experience, Borneo’s team has tackled and solved privacy challenges at global, hyper-growth companies such as Facebook, Dropbox, Uber, and Yahoo!.
The company said it will use this fresh capital to continue investing in its technology platform and meet growing customer demand.
“It was said that every company would someday be a software company, and with that reality, it can now be said that every company is also now a data company. This paradigm shift presents increasingly complex security and privacy challenges as data flows through dynamic cloud-first environments,” Raid added.
Commenting on the investment, Tommy Teo, Head of Southeast Asia at Vulcan Capital, said, “Borneo’s best-in-breed solutions urgently address today’s data visibility, security, and proactive privacy management problems at speed and at scale”.
“Borneo’s customers – both practitioners and business leaders alike – value the visibility and confidence that informed decision making and proactive remediation can bring to their data security postures and platforms,” he added.