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Dymium Emerges Out of Stealth with $7M in Funding Led by Two Bear Capital to Launch Zero Trust Data Security Platform with Secure AI ChatLOS GATOS, Calif., March 20, 2024 /PRNewswire/ -- Dymium, a data access management company that enables organizations to bring "data access to where data lives," today emerged from stealth with $7 million in funding, led by $5 million from Two Bear Capital and $2 million from angel investors. Dymium was founded on the premise that data should be accessed only when it's needed, in the right context and format in real-time without the burden of managing yet another data environment or being susceptible to risk like ransomware.
Mike Goguen, Founder and Managing Partner of Two Bear Capital, has joined the Dymium board. Lou Pambianco, Tim Richardson, Melanie Corcoran, and Paul Temple have joined as advisors. The funding will be used to advance product development and expand the company's sales and marketing teams. Dymium is expanding into multiple market sectors including healthcare, finance, defense and intelligence, and digital infrastructure providers where data security has especially high value. Dymium's unique data platform provides secure access to data "where it lives," eliminating the complexity, availability, and timeliness challenges of duplicating data into data warehouses or data lakes and making it far more secure from hackers and thieves. Dymium combines a zero trust architecture, centralized access policies, and AI and machine learning to ensure authorized users see only what they are authorized to see regardless of its location. Data proliferation dramatically increases data security and compliance risks, given the average company has 24.8 million sensitive data files and 61% of organizations store that sensitive data in multiple locations across the cloud, on-prem, and SaaS. Most solutions attempt to track and lock down the hundreds or thousands of copies of data that are generated to satisfy different teams, but this merely increases data management complexity and costs while stifling innovation. The company was cofounded by three industry veterans who bring decades of experience in zero trust (VPN, SSL VPN, NAC, Wi-Fi security and guest access, and ZTNA/SASE.) Dymium CEO, Denzil Wessels, has focused his entire career on zero trust technology (he created Zscaler's zero trust solution). Igor Plotnikov (VP of Engineering) is the father of SSL VPN. Alongside Valentyn Kamyshenko (CTO), they built the SSL VPN solutions at F5 Networks as well as Cisco Systems. The Dymium Platform is a session-aware data security platform that can get any user or application the data in real-time in the format desired. All data is governed by security and compliance policies that are dynamically applied to all data access requests. This ensures that users see not only the right data but only the data they are entitled to see. The solution does not make copies of the data; instead, Dymium applies data access policies and transformation in transit, eliminating the challenges endemic with data duplication. "The practice of copying data to provide teams with data in myriad formats, each with different access controls, policies, and security requirements, has led to unprecedented complexity that impedes innovation and undermines security and governance," said Wessels. "Dymium eliminates the need to make copies of the data, allowing you to secure data where it lives. It provides greater agility and secure access to a single version of the truth using a zero trust architecture, centralized access policies, and real-time data transformation services." "We know companies are drowning in data, but the amount they produce or acquire is only half the challenge," said Cris Neckar, Venture Partner at Two Bear Capital and board observer at Dymium. "The other half is making it usable and accessible for different teams and audiences – business analytics, product development, AI initiatives, customer service, and partner programs. Dymium has taken a truly differentiated approach to solving this challenge, leaving data where it is and in its natural format so there are no new copies, no new data lakes, no cached data, no stale data. With real-time data privacy controls and data transformation services across heterogeneous data sources, Dymium enables companies to transform data management without transforming their data. Two Bear Capital is excited to work with Dymium to help it reach its full potential." The key strategic benefits of the Dymium Platform include:
Dymium integrates with the existing IAM infrastructure to automatically:
For more information on the company, visit www.dymium.io. About Dymium At Dymium, we enable you to access only the data required, in the right context and format, in real-time, without the burden of managing yet another data environment or putting your company or country at risk. Dymium enables organizations to securely and cost-effectively manage data access requirements across a proliferation of data without stifling innovation. The Dymium Platform provides data agility without risk by taking data access to where data lives. The solution eliminates the complexity, availability, and timeliness challenges of duplicating data into data warehouses or data lakes. It uniquely combines a zero trust architecture, centralized access policies, and real-time, universal data translation services, ensuring only authorized users can access the right data regardless of its location. For more information, visit www.dymium.io or contact [email protected]. Media Contact:
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