Rapidly Expanding Data Offers Automation Platform For Security And Compliance

Rapidly Expanding Data Offers Automation Platform For Security And Compliance

Customer data is a valuable company asset that is now subject to strict regulations. Because of this, businesses require ongoing security audits to ensure that they are preserving the private information of their customers, abiding by federal laws, and avoiding liabilities and hefty fines. It should come as no surprise that the market for compliance management software is sizable and expanding; Verified Market Research estimates that it will be worth $32.1 billion in 2020 and reach $74.8 billion by 2028.

Established and rapidly expanding business

The goal of Data, a recently established and rapidly expanding business that offers an advanced security and compliance automation platform, is to assist businesses in upholding the confidence of their users, customers, partners, and potential customers.

The San Diego-based business, which was established in 2020 by Adam Markowitz, Daniel Marashlian, and Troy Markowitz, assists businesses in streamlining their SOC 2 and over 10 other compliance frameworks, regulations, and standards through continuous, automated control monitoring and evidence collection, which reduces the costs and time spent getting ready for compliance audits. 

SOC 2 is a voluntary compliance standard created by the American Institute of CPAs that outlines how organizations should manage customer data.

According to Adam Markowitz, co-founder, and CEO of Data, “Trust has kind of been the theme of my career.” After graduating from college in 2008, he secured his dream job as an aerospace engineer working on NASA’s space shuttle engine program by assembling a portfolio of his achievements and talents to demonstrate his expertise and qualifications and gain his employers’ trust. 

In 2013, Markowitz, Troy Markowitz, and Daniel Marashlian founded their firm, Portfolio, which would expand on the CV portfolio concept into a standalone business after NASA canceled that program in 2011.

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After the NASA program was canceled in 2011, Markowitz, Troy Markowitz, and Daniel Marashlian formed their own company, Portfolium, to continue developing the concept of the CV portfolio into a stand-alone business. Selling to universities, Portfolio swiftly gained market momentum and expanded to a network of more than 5 million students. Instructure acquired the company in 2019.

“We put in the time, money, and effort to design a system to automate the process because we needed to show that their data was safe and secure before we could sell to universities.” After the acquisition, I reunited with my original co-founders to launch Data in 2020 to assist businesses in establishing and maintaining a security compliance posture to gain the confidence of potential customers.

The Real Background of Thanksgiving

Data is currently one of the SaaS companies with the quickest growth. When they officially launched in January 2021, they attracted 100 clients within the first two months. Over the following 18 months, as they expanded internationally, they signed up thousands of clients and hired more than 250 people in the US and abroad.

According to Markowitz, it’s unquestionably the rocket ship that people have been describing, made possible by the muscle memory of the original team reuniting after having previously solved a problem here.

Due to its development trajectory, the business has attracted $128.2 million in venture capital to date. The company was valued at $1 billion in its most recent $100 million B round, which was completed on November 8, 2021, and was headed by ICONIQ Growth with participation from Alkon Capital and Salesforce Ventures. GGV Capital, Cowboy Ventures, and Leaders Fund, among others, are more investors. This additional endorsement helps showcase what we’re up to and this new method of operating, according to Markowitz. “We’re also able to recruit investors like SVCI, a group of roughly 50 CISOs from Silicon Valley’s best tech businesses.

Los Angeles served as Markowitz’s

comparable to this one. I believe that trust, which serves as the cornerstone of our basic values, is entirely responsible for how quickly we have been able to execute.

Los Angeles served as Markowitz’s home city. His father was a special effects artist for the motion picture business. Playing competitive team sports as a child helped him develop his competitiveness and taught him the value of leadership and teamwork. Dad gave me the perspective of and an understanding of the CEO’s selfless nature. 

My father has always maintained that he has never had a job. He takes delight in his work. My two older siblings were also a big help to me growing up, in my opinion. “Starting a business is one of the hardest things you can do, but watching them gave me the courage to try anything,” says Markowitz.

He relocated to San Diego, where he obtained a degree in structural engineering and aerospace structures from the University of California, San Diego, and later a master’s degree in astronautical engineering from the University of Southern California. After receiving his degree, he established the CV Portfolio program that would form the cornerstone for the future growth of the two businesses he co-founded and was hired by Aerojet Rocketdyne in 2008 as an aeronautical engineer.

Regarding the future? “Our goal is to really pave the way when it comes to continuous automated compliance, which is new, to ensure the future of trust in the cloud.”

Therefore, the goal is to serve as the foundation of confidence between outstanding businesses and the people they do business with, as well as the system of record for a company’s security compliance posture in real time. Additionally, we believe we could create an infinite number of applications, all focused on trust,” adds Markowitz.

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