The Israeli startup ORION Security announced on Tuesday that it had raised $32 million in a Series A investment round, with participation from the American tech giant IBM.
ORION is an AI-focused startup that developed a platform that serves as an alternative to traditional data loss prevention (DLP) tools, serving customers across the finance, healthcare, and technology sectors.
“This funding is a powerful validation of what we’ve believed from day one: better policies are not the solution for DLP," said Nitay Milner, CEO and co-founder of ORION. "This investment, led by Norwest, gives us the momentum to accelerate our vision and bring truly autonomous DLP to every security team,” he added.
Data Loss Prevention powered by an AI platform
The company developed AI-powered agents that continuously detect and analyze data loss indicators in real time to minimize the amount of data that can be lost.
“ORION is rewriting the rules of data security, eliminating the rigid policy structures that have held DLP back for decades,” said Dave Zilberman, general partner at Norwest.
PICO Venture Partners, Lama Partners, and others who had already invested in the company during the seeding round participated in this Series A round alongside IBM and Norwest.
The latest $32 million investment round brings the total capital to $38 million after the seed round, the company confirmed.