Concentric AI Secures $45M Financing in Series B Round

Concentric AI, a data security posture management (DSPM) product, has raised $45 million in a Series B funding round, bringing its total funding to over $67 million. The round was led by Top Tier Capital Partners and HarbourVest Partners, with participation from CyberFuture and existing investors like Ballistic Ventures. Garth Timoll Sr., General Partner of Top Tier Capital, joins Concentric AI’s board.

The funding will accelerate Concentric AI’s growth and innovation in data security governance. The company has seen 300% year-over-year growth, tripled its customer base, and is leveraging AI to protect sensitive data across on-premise and cloud environments, including generative AI tools like Microsoft Copilot. Concentric AI’s platform uses natural language processing to autonomously discover, classify, monitor, and remediate data risks, addressing the needs of enterprises in a growing data security market projected to exceed $8 billion by 2027. The company helps organizations meet compliance and strengthen data security in response to increasing cyberattacks, cloud migration, and regulatory requirements.