Aembit Inc., a Silver Spring cybersecurity startup that helps facilitate the management of sensitive data, has raised $25 million to further scale its business.
San Francisco venture capital firm Acrew Capital led the Series A round. Return investors include Bay Area cybersecurity-focused venture firms Ballistic Ventures and Ten Eleven Ventures as well as the venture arms of cybersecurity firms Okta Inc. and CrowdStrike Holdings Inc.
The funding brings Aembit's total outside investment to nearly $45 million since its founding in 2021 by CEO David Goldschlag and Chief Technology Officer Kevin Sapp.
Aembit specializes in helping customers secure the information various applications, scripts and bots access to complete automated tasks, such as retrieving sensitive information from databases. Cyberattacks on that infrastructure have grown in recent years — and Aembit plans to capitalize on it by offering a product that mitigates a risk that's affected Microsoft Corp., The New York Times and Cloudflare Inc., a cloud services provider.
To keep up with expected demand, Aembit plans to use the funding to hire for roles across the company, including senior leadership positions. The remote-first firm employs about 30, about a third of whom reside on the East Coast.
"We plan to grow every aspect of our team, from engineering to sales, support, and marketing," Apurva Davé, Aembit chief marketing officer, told me in an email. "We will be hiring passionate, capable people at all levels in order to create the next phase of our success."
Davé did not share how many employees the company plans to hire in the next year. He said the startup is fit to take on data management needs of medium and large organizations, "especially those that build or operate their own software." More specifically, it's targeting those in sectors like finance, government, health care, retail and technology, among others.
He declined to share the company's revenue, which is generated from subscriptions to a software-as-a-service model.
