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Accenture Invests In Cloud Data Security Startup Symmetry Systems

Credit: Accenture

Accenture Ventures, the venture capital arm of the global IT consulting firm, has invested in Symmetry Systems, a San Francisco-based provider of cloud data security software. The investment was part of a $15 million Series A round led by Prefix Capital and ForgePoint Capital.

Symmetry Systems' software applies machine learning to help companies better understand and protect their large fleets of data stores and applications, the company says.

For its part, Accenture has a Top 250 MSSP business. Also, Accenture Ventures has made multiple cybersecurity and intelligence investments in recent years. Examples include Prevailion, Quantexa, Team8, Endgame and Claroty, among others.

Moreover, Accenture has acquired more than 70 IT consulting and technology companies from 2019 through June 2021, according to ChannelE2E's M&A list.

Accenture Invests in Symmetry Systems: Executive Perspectives

In a prepared statement about the Symmetry Systems investment,  Rex Thexton, who leads Accenture Security’s applied cybersecurity services globally, said:

“Data no longer resides in physical data centers, as more and more organizations have moved their workloads and applications to the cloud. In this environment, businesses of all sizes continue to wrestle with how to keep themselves secure. Our strategic investment in Symmetry Systems will enhance Accenture’s ability to provide clients with a better way to see who is accessing what in their secure cloud environment.”

Added Mohit Tiwari, Symmetry Systems CEO and co-founder:

“Today’s large organizations are custodians of millions of users’ most valued data, and our first priority is to help protect that at its source, giving organizations more granular control. Accenture’s investment will enable us to bring the best of our combined skills and capabilities to help clients keep their environments secure.”

Tom Lounibos, managing director of Accenture Ventures, concluded:

“Accenture Ventures’ investment in Symmetry Systems is consistent with our Cloud First strategy and the singular focus to help our clients across all industries make their cloud journey safe from the start. Symmetry Systems’ differentiated solutions offer greater flexibility of both on-premise and cloud configurations providing better visibility into an organization’s entire cloud estate. This approach is even more critical to keeping data safe with the proliferation of edge devices and in today's work-from-anywhere world.”

Terms of the Accenture investment were not disclosed.

Joe Panettieri

Joe Panettieri is co-founder & editorial director of MSSP Alert and ChannelE2E, the two leading news & analysis sites for managed service providers in the cybersecurity market.