May 24, 2024

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Unlimited Technology

Two Austin tech startups combine to raise nearly $70M to continue growth

Ontic, which  makes a security data platform designed to help security teams, has raised $40 million. Pictured are executive team members Gagan Jain, Tom Kopecky and Luke Quanstrom.

Two Austin technology companies — security software maker Ontic and insurance startup Steadily — have combined to raise $67 million in funding that they aim to continue their growth and expand their offerings.  

Ontic, which launched in 2017 and makes a security data platform designed to help security teams. has raised $40 million to grow its security technology and expand its market reach.  

The round was led by JMI Equity, and also had investment from Felicis Ventures, Silverton Partners and Ridge Ventures. 

The company said the funding will go toward expanding into new market segments and geographies. Ontic also said that it will use the round to help speed up its product development, establish new partnerships and grow its team.  

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