Ontic Raises $40M to Scale Its Protective Intelligence Platform
Ontic announced Tuesday that it has raised $40 million to scale its protective intelligence software that helps companies identify, assess and manage physical security threats.
The investment is led by JMI Equity, with additional participation from Felicis Ventures, Silverton Partners and Ridge Ventures.
Ontic has raised nearly $58 million in total. This Series B round follows a $12 million Series A round in April 2020.
Launched in 2017, Ontic uses data to detect, analyze and mitigate potential physical threats. Data from disparate channels is aggregated into a single platform, presenting a clearer assessment of potential threats.
Ontic CEO Lukas Quanstrom told Built In that companies use its platform to prevent incidents of workplace violence, insider threats and generally to protect people, facilities and assets in corporate settings.
“While many other platforms today surface potential threats from areas like social media for example, they aren’t supporting security teams in the understanding of those threats,” Quanstrom said. “The Ontic Platform provides the larger context needed to mitigate threats before they happen and gives security teams the ability to improve security and operational efficiency, minimize organizational risk and reduce complexity across their organizations.”
Ontic has grown quickly, generating a 257 percent compound annual growth rate over the last two years. The company also recently enhanced its ability to scale through the acquisition of SIGMA Threat Management Associate in September.
The company currently has 107 employees, 53 of which are based in Austin. Ontic expects to nearly double its headcount in the next year.
In addition to hiring, Ontic will use the new funding to expand into new markets, accelerate product development and establish new partnerships.