Odaseva raised €50.5 million in Series C funding to enhance its data security solutions for Salesforce users, demonstrating strong investor confidence amid a shifting landscape in the French startup market.
Information on the Target
In July 2024, the French startup Odaseva successfully raised €50.5 million in a Series C funding round. Odaseva specializes in providing data security solutions for enterprises utilizing Salesforce. The company, founded by Sovan Bin, Rémy Claret, Richard Zolezzi, and Vincent Delamarre, has garnered attention for its innovative approach to safeguarding cloud services within the Salesforce ecosystem. To date, Odaseva has raised a total of €90 million since its inception, demonstrating significant investor confidence and interest in its solutions.
Notable customers of Odaseva include global giants such as Accor, Schneider Electric, and Michelin. The strong market demand for data security aligns with increasing concerns over cyber threats and the crucial need for data protection solutions, especially in light of evolving regulatory environments.
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Industry Overview in France
The French venture capital market has shown modest growth, with startups raising a total of €291 million in July 2024, slightly up from €280 million the previous year. However, this signals a continued contraction in the venture capital landscape
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Transaction Size: $51M