Odaseva announced a $54 million Series C equity financing on June 27, 2024. Silver Lake Waterman led the round, which included existing backers F-Prime, Eight Roads and Serena Capital, along with new investors Eurazeo and Crescent Cove. The financing took Odaseva’s total funding to more than $90 million.
The company said it will use the capital to develop enterprise data-security and Zero Trust products, expand across North America, Europe and Asia Pacific, and add senior executives. Odaseva builds data-security, resilience and continuity tools for organizations that run Salesforce.
Odaseva Series C: the key numbers
| Detail | What Odaseva announced |
|---|---|
| Round | $54 million Series C equity financing |
| Announcement date | June 27, 2024 |
| Lead investor | Silver Lake Waterman |
| Other participants | Existing investors F-Prime, Eight Roads and Serena Capital; new investors Eurazeo and Crescent Cove |
| Total funding after the round | More than $90 million |
These figures come from Odaseva’s company announcement and describe a private-market financing, not a public stock offering or a valuation disclosure.
Who led the financing?
Silver Lake Waterman led the Series C. F-Prime, Eight Roads and Serena Capital followed on as existing investors, while Eurazeo and Crescent Cove joined as new investors. Shawn O’Neill, Silver Lake Waterman’s managing director and group head, characterized Odaseva as a data-resiliency platform for mission-critical Salesforce applications.
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- Check FIDO2 compatibility before purchase - Known limitations: ID Austria is not supported (requires FIDO2 Level 2). Windows Hello login only works with Windows Enterprise editions that support Entra ID. NFC is supported only through mobile authentication, Not MacOS/windows.
How Odaseva plans to use the $54 million
Enterprise data security and Zero Trust
Odaseva said product investment is the central use of proceeds, with emphasis on enterprise data security and Zero Trust offerings. In practice, that points to controls around protecting Salesforce data, limiting access and maintaining trustworthy operations rather than treating backup as the company’s only function.
International expansion
The company plans to add resources in North America, Europe and Asia Pacific. That expansion is intended to broaden market reach and support large customers across regions with differing regulatory, residency and operating requirements.
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- FIDO2 & Passkey Ready: Business-ready and FIDO2 L1 certified. This key is supported by major management suites and is ideal for both individual and enterprise deployment. Works seamlessly with Gmail, Facebook, GitHub, Dropbox, Coinbase, and more.
- Universal Connectivity (USB-A ): Features a built-in USB-A connector—simply unfold the key and plug it into your compatible PC or laptop for seamless authentication on the go.
- Dedicated Manager App: Use the Thetis Manager App for the initial hardware PIN setup. Setting the PIN on the device first ensures a smooth registration process. Once the PIN is configured, you can begin registering the key across your favorite FIDO2-compatible online services.
- Ultra-Durable & Portable: Featuring a rotating metal cover, this key is water, crush, and tamper-resistant. It fits easily on a keychain and requires no batteries or network connectivity.
- Check FIDO2 compatibility before purchase - Known limitations: ID Austria is not supported (requires FIDO2 Level 2). Windows Hello login only works with Windows Enterprise editions that support Entra ID, and NFC is NOT supported.
Executive hiring
Odaseva also cited continued leadership hiring. Recent additions named in the announcement were Steven Corbin as chief financial and operating officer, Matthew Johnston as chief revenue officer and Susan Lansing as chief people officer.
What Odaseva does for Salesforce customers
Odaseva describes itself as an enterprise data-security platform built for organizations running Salesforce. Its stated capabilities span several layers:
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- FIDO2 & Passkey Ready: Business-ready and FIDO2 L1 certified. This key is supported by major management suites and is ideal for both individual and enterprise deployment. Works seamlessly with Gmail, Facebook, GitHub, Dropbox, Coinbase, and more.
- Dedicated Manager App: Use the Thetis Manager App for the initial hardware PIN setup. Setting the PIN on the device first ensures a smooth registration process. Once the PIN is configured, you can begin registering the key across your favorite FIDO2-compatible online services.
- Universal Connectivity (USB-C, USB-A, & NFC): Designed for PCs, Macs, iPhones, and Android. For mobile use, simply unfold the key, align it with your phone’s NFC antenna, and hold for a few seconds to authenticate.
- Enhanced MFA (FIDO2 & TOTP/HOTP): Strengthen your security with flexible options. Use the Manager App to access TOTP/HOTP features for accounts that do not yet support FIDO2.
- Check FIDO2 compatibility before purchase - Known limitations: ID Austria is not supported (requires FIDO2 Level 2). Windows Hello login only works with Windows Enterprise editions that support Entra ID. NFC is supported only through mobile authentication, Not MacOS/windows.
- Encryption: end-to-end encryption for Salesforce data.
- Availability and continuity: availability optimization of up to 99.99%, according to the company.
- Backup and recovery: recovery-point and recovery-time capabilities designed to restore operations after data loss or disruption.
- Compliance support: controls intended to help organizations meet regulatory requirements.
That positioning makes Odaseva broader than a basic Salesforce backup utility. A buyer evaluating it should examine Salesforce-specific coverage, encryption and access controls, recovery-point and recovery-time objectives, continuity targets, regulatory and data-residency support, geographic operations and the scale of comparable enterprise deployments.
How many users does Odaseva secure?
At the time of the June 2024 announcement, Odaseva said it was securing more than 100 million users for customers worldwide, including a growing number of Global Fortune 500 companies. This is a dated, company-reported figure; it should not be read as a current 2026 user count or as an independently audited market-share measure.
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- Online Account Protection - FIDO2 key is backward compatible with U2F protocol and works with the newest Chrome browser with operating systems such as: Windows, macOS, or Linux. U2F can be supported and protected on all websites that follow U2F protocols.
- Multi-factored Authentication - Built-in, advanced HOTP (One Time Password) technology that completes the unique multi-factored authentication process. Eliminate worry and help prevent losing your account info to theft, phishing, hacking, or other online scams. Note: Only Enterprise Users using Azure Active Directory can access Windows Hello log-in via Thetis FIDO2 Security Key.
- Compact And Durable - 360° design with rotating aluminum alloy cover that shields the USB connector when not in use. Tough and durable alloy protects FIDO2 key from daily wear-and-tear, accidental drops, and scratches.
- Portable Design - ultra-portable design allows you to take your FIDO key anywhere you need it.
What the funding signals—and what it does not
The round gives Odaseva additional capital to expand its product range and sales footprint after what it described as marquee customer wins across industries and geographies. It also provides financial capacity for hiring and international support as the company pursues category leadership in Salesforce data security and resilience.
Funding alone does not establish that Odaseva is the market leader, disclose its valuation, or prove that every planned product investment has been completed. The announcement supplies no independent ranking against other Salesforce data-protection vendors. Prospective customers should therefore assess security architecture, recovery testing, service-level commitments, residency options and compliance evidence directly.
Why this matters to Salesforce enterprises
Salesforce is a system of record for many large organizations, so an outage, corrupted data set or unauthorized disclosure can affect revenue, regulatory obligations and customer operations. Odaseva’s stated strategy is to combine protection, recoverability and continuity around that Salesforce environment. The Series C is intended to fund deeper capabilities and broader coverage for enterprises that need more than the platform’s native administration tools.
The Bottom Line
Odaseva’s June 27, 2024 Series C raised $54 million, led by Silver Lake Waterman, taking total funding above $90 million. The company said the money will fund Salesforce-focused data-security and Zero Trust products, international expansion and executive hiring. Its more than 100 million secured users figure was company-reported at announcement time and is historical, not a current independent measurement.
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