Ontic, a protective intelligence software provider, has raised $40 million in a Series B funding round to accelerate its expansion and mission. The investment is led by JMI Equity, a growth equity firm focused on investing in software companies. Felicis Ventures, Silverton Partners and Ridge Ventures also participated in the round.
Ontic has experienced much growth since its launch in 2017 with a 257 percent Compound Annual Growth Rate (CAGR) over the last two years and more than 300 new features and product enhancements launched in 2021 alone. Ontic recently augmented its ability to scale through the acquisition of SIGMA Threat Management Associates.
“We are at an inflection point where unmanaged and rising security threats are pushing the boundaries of corporate risk and negatively impacting business continuity,” said Lukas Quanstrom, Ontic co-founder and CEO. “The days of succeeding in protecting organizations with multiple solutions are over. The Ontic Platform is what's needed to close the intelligence gap, bringing together real-time threat detection, management of cases and investigations, incident management and conducting of assessments all in one solution for enhanced collaboration across teams and a safer environment for all.”
Including Ontic’s previous funding rounds, its total raised to date is nearly $58 million. This new investment will be used to expand Ontic’s footprint in new market segments and geographies while accelerating product development, establishing new partnerships and adding staff across various teams.
“Ontic is completely reshaping the ability for corporations to proactively identify, assess and track potential threats, also known as protective intelligence,” said Bob Nye, general partner at JMI. “We believe passionately in the Ontic mission and are thrilled to partner with the management team to build momentum and scale.”
Ontic is led by protective intelligence and SaaS executives including co-founders Lukas Quanstrom, Tom Kopecky and Gagan Jain, who bring industry experience in providing threat assessment for brands, leading and scaling global teams, and designing software products for Fortune 500 companies.