Total amount raised
$60.3 Millions
Latest funding date
08/01/2022
Location
Nightfall has successfully raised funds through multiple rounds, with the latest being a Series B that closed on August 10, 2022. The company is backed by 21 investors, including notable names like Next Play Capital and Paul Rudd.
Keep reading to explore the intricacies of Nightfall's fundraising journey and the investors backing this innovative platform.
What Is Nightfall?
Nightfall, founded in March 2018 by Isaac Madan and Rohan Sathe, is a cloud data protection platform based in San Francisco, California. The company specializes in using machine learning to identify and detect business-critical data, offering a comprehensive SaaS data protection platform.
Operating in industries such as analytics, artificial intelligence, and cloud data services, Nightfall employs between 101-250 people. Their solutions include data detection and response, data exfiltration prevention, and AI model security, catering to sectors like SaaS, healthcare, and financial services.
How Much Funding Has Nightfall Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their cloud data protection platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their machine learning capabilities and expand their initial customer base.
- Series A
- Amount Raised: $20.3M
- Date: November 2019
- Lead Investors: Bain Capital Ventures, Venrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series B
- Amount Raised: $40M
- Date: August 2022
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To hire new talent, add product integrations, and expand the customer base.
Total Amount Raised: $60.3M. Current Valuation: Not publicly disclosed.
Key Investors
- WestBridge Capital
- Details: WestBridge Capital is a private equity firm that invests in high-growth companies. Sumir Chadha, co-founder and managing partner, joined Nightfall AI’s Board of Directors.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Not specified in the sources.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital division of Bain Capital, investing in early to growth-stage companies. Enrique Salem, Partner at Bain Capital Ventures and former CEO of Symantec, is a Nightfall board member.
- Investment Focus Areas: Enterprise software, infrastructure software, technology.
- Notable Investments: LinkedIn, DocuSign, SurveyMonkey.
- Venrock
- Details: Venrock is a venture capital firm that focuses on early-stage investments in technology and healthcare. It has a long history of backing innovative companies.
- Investment Focus Areas: Technology, healthcare, software as a service (SaaS).
- Notable Investments: Apple, Intel, Gilead Sciences.
- Pear VC
- Details: Pear VC is a venture capital firm that invests in early-stage startups. It is known for its hands-on approach in helping startups grow.
- Investment Focus Areas: Technology startups, various sectors.
- Notable Investments: DoorDash, Guardant Health, Gusto.
- Next Play Capital
- Details: Next Play Capital is an investment firm that focuses on venture capital funds and high-growth technology companies. It participated in Nightfall's Series B funding round.
- Investment Focus Areas: Technology, high-growth sectors.
- Notable Investments: Not specified in the sources.
What's Next for Nightfall?
Nightfall is poised for significant growth, driven by the increasing demand for cloud-native data protection solutions. With $40 million in Series B funding, the company plans to double its headcount, expand its customer base, and enhance product integrations. This expansion is crucial as traditional data loss prevention solutions become less effective and more costly.
Future fundraising opportunities seem promising, given the successful Series B round and the company's rapid growth. Nightfall's focus on leveraging AI for high-accuracy data detection positions it well for attracting further investment. However, the company will need to navigate challenges such as competition from legacy solutions and managing rapid growth effectively.
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