ObserveIT Inc., a developer of user activity recording and auditing software, has raised $20 million from Bain Capital Ventures. The company will use the funding to expand its US headquarters and for product development, sales and marketing.
ObserveIT is headquartered in New York and has offices in Tel Aviv. After growing by 3,500% in the past five years, it solution is used at more than 800 corporations in over 70 countries. The company has developed a software-only solution that provides a complete visual for monitoring and insight into user activity, enabling companies to solve compliance, security and IT operational problems.
“ObserveIT helps customers protect sensitive data, comply with government regulations and achieve peace-of-mind about how data is being used, accessed and managed,” said ObserveIT co-founder and CTO Gabriel Friedlander. “The significant investment from Bain Capital Ventures will help us reach broader audiences and additional industries, enabling us to offer the same level of security and peace-of-mind to a much wider marketplace."
Published by Globes [online], Israel business news - www.globes-online.com - on December 10, 2013
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