Concentric AI Achieved 200% Growth Last Year

Concentric AI, a vendor of intelligent AI-based solutions for autonomous data security posture management, announced it had a record 2022, which saw sales grow by 200 percent over 2021, following its first year of shipping in 2021. The company realized rising sales traction across the board, particularly in industries with heightened data security and compliance concerns, including health care, financial services, energy, manufacturing, education and high-tech.

Concentric AI secures data-centric work using AI to protect business-critical information hidden in the applications and databases used by today’s distributed workforce. The company’s deep learning solution autonomously and accurately identifies sensitive data, assesses risk, and remediates security issues, allowing organizations across industries to address their data security needs.

“Data remains a vulnerable threat surface,” said Karthik Krishnan, Concentric AI CEO. “Data Security Posture Management solutions like Concentric Semantic Intelligence are emerging as a proven approach to help protect mission-critical enterprise data across structured and unstructured data, as well as email and messaging applications. We are thrilled to be able to help customers at petabytes scale accurately protect their data without needing to utilize large teams to write rules or regex and administer on an ongoing basis.”

Last year Gartner recognized Concentric AI in four Hype Cycles – Data Security, Security Operations, Storage and Data Protection, and Data Management. Within Gartner’s “Hype Cycle for Data Security, 2022,” Concentric AI was recognized as a vendor in the emerging Data Security Posture Management space, in addition to the Data Access Governance and Data Discovery and Management categories. Garner uses Hype Cycles to recognize emerging technologies and help customers understand how the value of technology evolves over its maturity lifecycle.

In 2022, Concentric AI introduced several major updates to its Semantic Intelligence data security posture management solution including:

  • Integration with Snowflake and CTERA to extend data security posture management capabilities to those solutions
  • Industry-first functionality to protect data shared as text or attachments across the most popular messaging platforms, including e-mail, Slack and Microsoft Teams
  • Launched Concentric Exchange for out-of-the-box risk identification within the Semantic Intelligence platform. This industry-first anonymous data security policy marketplace simplifies and improves organizations’ data security and access governance efforts by sharing the expertise and experience of other Concentric AI customers for effective data security management.

Concentric AI announced its Series A round of funding led by Ballistic Ventures and Citi Ventures in May and expanded its leadership team in 2022 to match the acceleration of growth witnessed during the course of the year.

In 2022 Concentric AI monitored up to 1.5 petabytes of data per customer and secured 1 million users. The Semantic Intelligence platform protected 24 million unstructured data files/records from being overshared and classified 400 million data files/records for its customers.

Concentric AI continued to provide customer value across industries. For example, within financial services where sensitive data is prominent, Concentric AI worked with one of the largest U.S. credit unions to deploy its data classification and data security posture management program.

Concentric AI’s Semantic Intelligence automates unstructured and structured data security using deep learning to categorize data, uncover business criticality and reduce risk. Its Risk Distance™ analysis technology uses the baseline security practices observed for each data category to spot security anomalies in individual files. It compares documents of the same type to identify risk from oversharing, third-party access, wrong location, or misclassification. Organizations benefit from the expertise of content owners without intrusive classification mandates, with no rules, regex, or policy maintenance needed.

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