Open Raven is a technology company.
Open Raven has raised $39.0M across 3 funding rounds.
Open Raven has raised $39.0M in total across 3 funding rounds.
# Open Raven: Data Security Posture Management Pioneer
Open Raven is a cloud-native data security platform company that helps organizations discover, classify, and protect sensitive data across multi-cloud environments[1]. The company addresses a critical gap in modern security operations: enterprises struggle to answer fundamental questions about their data landscape, such as "Where's our data?" and "Is it secured properly?"[1]
Open Raven serves security and cloud infrastructure teams across industries requiring strict data compliance, including financial services, healthcare, and retail[1]. The platform automates data discovery at petabyte scale, applies security guardrails, prevents incidents, and streamlines incident response—enabling organizations to maintain visibility and control over sensitive information without the traditional time and cost burden[1].
Open Raven was founded in 2019 and is based in Los Angeles, California[1]. The company emerged during a period of explosive cloud adoption when organizations lacked adequate tools to manage rapidly growing data volumes across distributed cloud environments. Rather than building point solutions, the founders recognized the need for a comprehensive platform that could map entire cloud estates using serverless functions and native APIs[1].
The company's trajectory reflects strong market validation: it raised $39.1 million in total funding before being acquired by Formstack in June 2024[1]. At the time of acquisition, Open Raven had grown to approximately 45 employees[2], indicating focused, efficient scaling within the competitive data security space.
Open Raven operates at the intersection of two powerful trends: the cloud-first enterprise transformation and the rising regulatory burden around data privacy and protection. As organizations migrate workloads to multi-cloud environments, they lose traditional network perimeter visibility, creating blind spots where sensitive data can hide undetected.
The company's emergence reflects a market shift toward Data Security Posture Management (DSPM) as a distinct category within cybersecurity[1]. This represents recognition that traditional data loss prevention tools are insufficient for cloud-native architectures. Open Raven competes in this space alongside companies like Sentra and Cyera, all addressing the same fundamental problem: enterprises need automated, scalable solutions to govern data in distributed environments[1].
The timing has been favorable: regulatory frameworks (GDPR, CCPA, HIPAA) increasingly mandate data inventory and classification, while cloud adoption accelerates the complexity of maintaining compliance. Open Raven's acquisition by Formstack—a workflow automation and forms platform—suggests the acquirer recognized the strategic value of embedding data security capabilities into broader enterprise operations platforms.
Open Raven's acquisition by Formstack marks a transition from independent startup to integrated platform component, likely expanding its reach through Formstack's existing customer base while gaining resources for product acceleration. The company's focus on automation and scalability positions it well for a market increasingly demanding continuous compliance monitoring rather than periodic audits.
The broader DSPM category will likely consolidate as larger security vendors acquire specialized players, but the fundamental problem—enterprises struggling to govern data across cloud environments—will only intensify as cloud adoption deepens and regulatory requirements tighten. Open Raven's technical approach to automated discovery and classification at scale addresses a problem that will remain critical regardless of market consolidation.
Open Raven has raised $39.0M in total across 3 funding rounds.
Open Raven's investors include 11.2 Capital, Antler, Brand Foundry Ventures, Conviction Partners, Jenny Fielding, Scott Hartley, Felicis Ventures, IrishAngels, Kleiner Perkins, Monarch Collective, Motivate Ventures, Pelion Venture Partners.
Open Raven has raised $39.0M across 3 funding rounds. Most recently, it raised $20.0M Series B in September 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2022 | $20.0M Series B | 11.2 Capital, Antler, Brand Foundry Ventures, Conviction Partners, Jenny Fielding, Scott Hartley, Felicis Ventures, IrishAngels, Kleiner Perkins, Monarch Collective, Motivate Ventures, Pelion Venture Partners, Plug & Play Ventures, Rev1 Ventures, Uncork Capital, Upfront Ventures, Y Combinator, Chris Smoak, Oliver Friedrichs | |
| Jun 1, 2020 | $15.0M Series A | Allegion Ventures, Andreessen Horowitz, Animo Ventures, Ballistic Ventures, Dell Technologies Capital, Forum Ventures, Greycroft, Harrison Metal, Kleiner Perkins, Menlo Ventures, MetaProp Ventures, Monarch Collective, SNR, Ten Eleven Ventures, Arash Ferdowsi, Deepak Jeevan Kumar, Tony Jamous | |
| Feb 1, 2020 | $4.0M Seed | Andreessen Horowitz, Harrison Metal, Kleiner Perkins, Menlo Ventures, Monarch Collective, SNR, Arash Ferdowsi |