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Aware Raises $12M Series B Investment Led By Spring Mountain Capital

by Jeff Schumann

Aware, the leader in collaboration-first governance, risk and people insights, announced a $12 million Series B investment today.

Aware, the only comprehensive AI solution for governance, risk, compliance (GRC) and insights for leading digital collaboration technologies, is thrilled to share it recently closed a $12 million Series B equity investment. The round was led by New York-based Spring Mountain Capital with participation from Blue Heron Capital and Allos Ventures.

With the massive influx of remote work due to the coronavirus pandemic, platforms like Slack, Microsoft Teams and Workplace from Meta (formerly Facebook) are suddenly top-of-mind for organization leaders across the globe. Purpose-built for collaboration, Aware offers a unified view across many of these tools. Aware’s platform provides AI-enhanced controls and governance capabilities for the nuanced conversation data set that lives within these communication tools. Additionally, Aware continuously enriches the conversation data that flow through the tools with proprietary natural language processing (NLP) and AI models, providing organizational value and insights such as ongoing employee sentiment and commonly discussed themes.

We’re excited to partner with investors who truly understand our space and the opportunity,” said Jeff Schumann, CEO and Co-Founder of Aware. “The use of enterprise collaboration and communication tools is only increasing with the influx of remote work. We see an opportunity to provide necessary controls and to derive incredible business insights using our proprietary AI.”  

The Aware platform works behind-the-scenes to address stakeholder requirements for governance and insights related to these tools, without disrupting the user experience. Aware’s solutions—including archiving, monitoring, DLP, eDiscovery, bi-directional retention and legal holds— address common challenges that legal, compliance, information security and IT departments face. As a result, the comprehensive platform reduces the total cost of collaboration ownership.

Aware is uniquely positioned to tackle today’s remote-work-first world with the team’s extensive background in understanding digital conversations,” said Jamie Weston, Managing Director of Spring Mountain Capital said. “Aware solves an immediate risk and compliance need, but also has an incredible vision for the future. We’re thrilled to partner with Jeff and team on this next stage of the company.”  

Aware was founded in 2017 and quickly penetrated the enterprise market by securing high-profile customers across the globe including Wipro, AstraZeneca, Sun Life Financial, Farmers Insurance, Memorial Health System and British Telecom. The investment will accelerate the company’s go-to-market efforts, increase partnerships, grow Aware’s integration ecosystem and support ongoing product research and development.

Financing also includes participation from by existing investors Draper Triangle Ventures, Ohio Innovation Fund, JumpStart, Rev1 Ventures and JobsOhio.
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About Aware

Aware delivers AI-infused governance, compliance adherence for enterprise organizations deploying today’s leading collaboration and messaging platforms, including Slack, Microsoft Teams, Yammer and Workplace from Facebook. Aware’s comprehensive platform solves common challenges that legal, compliance, information security and IT departments face when rolling out collaboration, including archiving, monitoring, organization insights, DLP, eDiscovery, retention and legal holds. Aware is a Microsoft Gold Partner, Slack compliance partner and a Workplace by Facebook integration partner. Leading research analyst firm Gartner announced Aware as a Gartner Cool Vendor based on the September 11, 2018 report titled, “Cool Vendors in Unified Communications and Collaboration Technologies.”

The company is headquartered in Columbus, Ohio — a city recognized by Forbes as the #1 rising city for startups.

For more information, follow on Twitter and on LinkedIn. 

About Spring Mountain Capital

Spring Mountain Capital is a New York-based private investment management firm that focuses on alternative asset investing. The SMC Growth equity team focuses on providing expansion capital to companies capitalizing on breakthrough innovations, paradigm shifts, or fundamental market or behavioral changes. SMC invests in two sectors of the U.S. economy undergoing the most change and with the highest growth potential: technology-enabled and healthcare businesses.
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