Pythian raises $6 million to help retailers eliminate data security breaches
Investment will accelerate adoption of Pythian’s data security solution
OTTAWA, Ontario – March 4, 2014 – Pythian, the global leader in data management consulting and services, announced today that it raised $6 million to expand the market reach of Adminiscope, its data security solution, to help retailers eliminate data security breaches. As global corporations continue to collect, store and monetize massive amounts of sensitive data, they’re increasingly turning to Pythian to secure their infrastructures, especially from internal threats. Investors include the Business Development Bank of Canada (BDC) and Royal Bank of Canada (RBC).
“It’s clear there’s an appetite out in the marketplace for greater data security measures among all organizations, especially retailers who have to protect sensitive customer financial information,” said Paul Vallée, Founder and Executive Chairman at Pythian. “The recent challenges continue to underscore the need for solutions like Adminiscope, and strengthen our resolve to ensure our clients operate with the highest level of security and accountability. Our technology offers organizations and their customers unwavering confidence in their data’s security. With this investment, we will bring our solution to more retailers large and small, and help them increase consumer confidence and protect their brand.”
Adminiscope, a software-as-a-service (SaaS) privileged session management solution, secures access to enterprise systems, cloud infrastructures, databases, servers and applications, and enables stakeholders to monitor and record in real time all privileged activity performed across an IT infrastructure. Database Trends and Applications magazine recently named Adminiscope to its list of Trend-Setting Products for 2014 in the data management and analysis space.
“Today’s announcement is not only a testament to RBC’s active focus on this innovative and simplified sector that is creating tremendous reach for business owners scaling for growth, but it demonstrates the bank’s long-standing track record when it comes to providing customized solutions that meet the complex needs of our customers,” said Andrew Arnott, Vice President of Knowledge Based Industries at RBC. “That’s why we are proud to partner with Pythian to help tackle some of the more serious issues plaguing clients in today’s wired and increasingly wireless world.”
Adminiscope, Pythian’s leading product offering, secures privileged access to more than 5,000 systems and is expected to protect 10,000 systems by the end of 2014. Pythian’s Adminiscope is offered in three editions. The enterprise version allows customers to monitor and record all privileged user activity within a system and it stores the records for up to seven years. Adminiscope also allows companies to view activity in real time, record, audit, alert and restrict internal and external users from applications and privileged access. These functionalities give customers with sensitive data complete control and visibility over their data assets.
“We are convinced that Pythian has what it takes to grow and move to the next level in terms of accelerating the adoption of it data security solutions,” said Cyril Cochrane, Managing Director with BDC’s Subordinate Financing division. “We are always excited about finding and supporting the next generation of high-growth Canadian companies who are well positioned to take on new, global markets.”
Founded in 1997, Pythian is a global leader in data consulting and managed services that specializes in optimizing and managing mission-critical data systems. Pythian blends the world’s leading data experts with advanced, secure service delivery processes to create the industry’s best standard of care for its clients.