Startup Monte Carlo Raises $25 million in Funds
Firstly, a bit about Monte Carlo, this venture capital firm startup is in San Francisco, California. The founder of Monte Carlo is Barr Moses and co-founder Lior Gavish who was the SVP in none other than the Engineering at Barracuda. While both were not only well educated with venture capital firms, but they both decided on how the tools for infrastructure mistakes and issues could be fixed. This is when the value or data came to mind, where is the validity?
Monte Carlo focuses on adding reliability when it comes to a company’s data. This is excellent because, on February 9, 2021, they announced a 21 million dollar raised foundation for AI that can help to monitor any data. Monte Carlo was founded in 2019 making this company very new.
What Monte Carlo does is make sure that say, when a natural disaster occurs, and computers are down for weeks. What happens to that company? Most must close, let people go, and file for bankruptcy. Instead, this company takes about $15 million or more per year to track any lost, broken, or misplaced data information for companies. This prevents important companies or even hospitals from going under when a disaster takes place, big or small impacted.
With near 210 competitors to name a few are, Garantia Data, Datavail, DataRow, and Automated Intelligence. But to name three investors that are currently helping with that million-plus dollars funding, they are GGV Capital, Accel, and RedPoint Ventures.
To give an insight into the growth Monte Carlo has seen with its venture capital firm if that from September 16, 2020, the funding was totaled at $16 million, and then on February 9, 2021, it jumped to $25 million. Raising $9 Million in 5 months. This shows how this startup is being watched as it expands even further.
Currently, 25 employees are working at Monte Carlo, with 5 main financing project investors. Since Monte Carlo utilizes the high technology called AI, using AI allows continuous monitoring to see when a drop or mistake is happening with any company. This way the problem can be rooted out and identified by combining all aspects such as warehouse or shipping.
Another great aspect is that this company has SOC-2 compliance. No more extracting from datastores. To prevent any type of company leak, Monte Carlo, customizes to only the company itself and prevents any type of release of information.
Even more exciting is that Monte Carlo has so many aspects that the AI adds coverage for a company, Monte Carlo has started its form of category. So far Monte Carlo has VC firms in Israel, Canada, and even South America. As of now, Monte Carlo has 20 petabytes of data, where they are now a reliable source.
Monte Carlo had made the extra $9 million with its B series investment. The growth looks out for Monte Carlo is grand, since cybersecurity is always either being invaded or cracked. Luckily, this company helps to prevent further damage.