Polymer Solutions, the ‘virtual compliance officer’ for SaaS, closes $1MM seed funding (Press Release)
Polymer Solutions, the ‘virtual compliance officer’ for SaaS, a next-gen data loss protection platform, announced the closing of its $1MM seed funding led by Tensility Ventures, Motivate Ventures, Inspiration Ventures, 10X Venture Partners & Acceleprise. Polymer allows organizations to start protecting and applying privacy frameworks such as PCI, GDPR, CCPA, HIPAA, ISO 27001/27701 in minutes for most popular SaaS platforms.
Polymer integrates with most popular SaaS platforms such as Slack, Zendesk, Teams, Box, Dropbox, Google and others. Access management with IAM solutions such as Okta and SIEM providers like Splunk allows companies of all sizes to easily integrate into legacy infrastructure.
“Consumers are demanding better handling of their information by companies. Privacy laws and constant barrage of security breaches demand a more thoughtful approach in how data sharing occurs within internal SaaS platforms,” says Polymer Founder & CEO Yasir Ali. “Data governance within organizations is quickly evolving into a mandatory requirement for technology and security teams. Existing CASBs and DLPs have done a poor job in addressing this problem requiring high amounts of human interventions for upkeep. We built Polymer from the grounds up to be easy to get started with and have a self-learning machine take over most of the governance functions.”
As a founder of DVega, an Enterprise consulting business, Yasir Ali saw this problem first hand in working with companies such as Deutsche Bank, CIBC, Barclays, S&P, Morningstar and others. He architected and built data, security & privacy solutions in large and complex organizations.
Ed Bellis, Co-Founder & CTO of Kenna Security, “Current data loss protection solutions create too much noise and are not actionable, especially for SaaS platforms. I bought into the Polymer story due to a common sense approach that is grounded in reality from Yasir & Usman. In recently trying out the tool ourselves, I found the product easy to use to surface any compliance issues.”
Polymer has multiple patent pending for its automated remediation technology that reduces human intervention and ultimately the total cost of ownership for data governance of SaaS.
Dave Wartell, President of IDT Corporation, says, “Keeping your customers’ data safe in the age of Slack and remote work is what keeps CIOs up at night. Compliance regulations are there but the real cost is billions in potential damages, lost revenue, and brand equity at risk from just a single incident of leaked customer data: Polymer’s feedback-driven machine learning and easy integration provides a rapid and surefire level of protection for the whole organization in key risk areas”
“We were able to get to 100% accuracy of alerts within weeks for HIPAA compliance over our Slack platform with over 1500 internal and external users”, Dave Bour Director IT at Medly Pharmacy- an online pharmacy that has raised over 100MM, a Slack Enterprise Grid customer.
Armando Pauker, Partner at Tensility Ventures & Ed Bellis, CTO/Co-Founder of Kenna Security will join Polymer’s Board of Directors.
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