Quest Software founder Vinny Smith’s venture firm Toba Capital has led a $13m Series B financing round for data security business Dataguise.
An unnamed electronic conglomerate also took part in the round, which Dataguise said it would put towards expanding its global sales and marketing as well as ongoing innovation of its software suite.
The investment is the latest in a string of investments Smith’s fledgling firm has made as part of plans to spend up to $150m this year, following the $2.4bn sale of Quest to PC giant Dell in 2012.
He and fellow industry veteran Paul Sallabery, who was previously a key member of Veritas, have been appointed to the Dataguise board following the Toba investment.
Smith said, “Dataguise has all the components for success including a white-hot market opportunity, a disruptive platform for discovering, protecting and assessing the risk of sensitive data exposure and is well positioned to put its competition on the defensive.
“The company is in an excellent position to deliver highly differentiated and adaptive solutions for its customers and partners to deliver on the promise of big data.”
SAP returned to invest in the company after initially backing it in 2011.
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