Private equity firm Thoma Bravo has invested in AppOmni, a SaaS security management and posture solutions company. The Series C funding round, which included Salesforce's venture capital arm, raised $70 million.
Thoma Bravo's participation is particularly interesting for MSPs and MSSPs. Indeed, the private equity firm already owns such MSP-friendly software companies as ConnectWise, N-able and Sophos.
We'll be watching to see if AppOmni potentially comes down market from the enterprise to engage SMB-focused MSPs -- though we're not guaranteeing such a move will happen. After all, Thoma Bravo also invests in multiple enterprise-class software companies that don't have a major MSP focus.
Meanwhile, startups such as Augmentt and SaaS Alerts already develop SaaS application security solutions that MSPs can leverage to safeguard Microsoft 365 and other popular cloud applications.
The Series C funding will help AppOmni drive product development, grow internationally and scale its go-to-market processes, according to a prepared statement. It comes after AppOmni secured $40 million in Series B funding in April 2021.
AppOmni Bolsters Partner Program
Along with adding Series C funding, AppOmni in May 2022 expanded its Infinity Partner Program to MSSPs, MSPs and other technology providers in Australia and New Zealand. It also updated Infinity's pricing tiers and offers the following price levels:
- Essentials: Offers components to help organizations comply with SaaS security requirements.
- Enhanced: Provides SaaS security for organizations that have an existing SaaS security program but want to expand it to support multiple applications, organizations and end-users.
- Enterprise: Delivers SaaS security for organizations that want to implement a SaaS security program that includes multiple apps, organizations and high end-user counts.
AppOmni continues to expand its channel presence across the globe, the company said. It reported a 4x increase in EMEA partners with 400 percent headcount growth and 5x growth in North American partners in 2021.
A Closer Look at AppOmni
AppOmni offers security management software to help organizations protect their data across SaaS applications, the company noted. The software can be used with a variety of SaaS apps, including:
- Box
- Confluence
- Fastly
- GitHub
- Google Workspace
- Jira
- Microsoft 365
- Salesforce
- ServiceNow
- Slack
- Workday
- Zoom
In addition, AppOmni offers a platform that enables developers to add security coverage for any SaaS application, the company said. AppOmni also lets organizations establish rules for data access, data sharing and third-party applications that are continuously and automatically validated.
Additional insights from Joe Panettieri.
