RedOwl Receives $4.6M Funding Boost

RedOwl Analytics announced earlier this week that it had finished its Series A financing round with $4.6 million of new funding. Founded in 2011, the firm applies analytics to internal corporate data streams for proactive risk oversight.

According to a company press release, the money will help RedOwl push forward in product development and expand its client portfolio in the financial services, legal & investigative, and government verticals.

Some of the investors in this latest round included Salesforce.com Chairman and CEO Marc Benioff and Igor Sill of Geneva Venture Group.

RedOwl CEO Guy Filippelli explained in a statement that RedOwl is being built on the “premise that internal oversight across financial services and beyond is primed for disruption.”

“We are witnessing a transformational shift in how corporations think about mitigating the risk they face from today’s digital and regulated world,” Filippelli said. “Corporations have spent the last several years worried about their electronic devices and networks.”

Additionally, the CEO explained that a more fundamental analytics-based approach is critical in today’s regulatory and enforcement environment. No other organization has yet been able to attack that issue, and Filippelli said that RedOwl hopes to be the solution.

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