ALTR

Name: ALTR
Brand: ALTR
SKU: 673f8d4a9be2ef32483fb855

Overview of ALTR Software Company

ALTR is a cloud-native data security and access governance platform that provides organizations with tools to protect sensitive data, ensure compliance, and manage data access across modern cloud environments. The platform focuses on safeguarding data at rest, in motion, and in use through features like dynamic data masking, tokenization, format-preserving encryption (FPE), and real-time monitoring. ALTR is particularly well-suited for enterprises leveraging cloud-based data warehouses like Snowflake, enabling them to secure sensitive information while maintaining usability and operational efficiency. Its solutions cater to industries with stringent compliance needs, such as healthcare, finance, and telecommunications.

Founding and Growth

ALTR was founded in 2014 with the mission of addressing the growing challenges of securing sensitive data in an increasingly cloud-driven world. The company is headquartered in Austin, Texas, and has positioned itself as an industry leader by focusing on automating data access governance and security.The company has experienced significant growth due to its strategic partnerships, particularly with Snowflake. Since launching on Snowflake Partner Connect in 2021, ALTR has seen:

A 325% increase in Snowflake Partner Connect activations.
A 472% growth in Snowflake-based annual recurring revenue (ARR).
A 130% increase in active policies managed through its platform.

These metrics highlight ALTR’s strong adoption within the Snowflake ecosystem and its ability to scale alongside its clients’ needs.

Funding and Valuation

ALTR has raised a total of $55 million across multiple funding rounds:

Series A (2018): $15 million led by institutional investors focused on enterprise software.
Series B (2020): Funding used to expand its go-to-market strategy and enhance product development.
Series C (November 2023): $25 million led by John Stafford III and other undisclosed investors. This funding round aims to:
- Strengthen ALTR’s position as a leader in cloud-native data security.
- Expand its integrations with other platforms beyond Snowflake.
- Grow its partner ecosystem and accelerate customer acquisition.

The company’s valuation reflects its strong market position as a pioneer in automated data access governance.

Product Offerings and Features

ALTR offers a comprehensive suite of features designed to secure sensitive data while simplifying governance processes:

Dynamic Data Masking:
- Ensures sensitive information is obscured based on user roles and permissions, enforcing least-privilege access policies.
Tokenization:
- Replaces sensitive values with non-sensitive tokens that retain usability for analytics while reducing exposure risks.
Format-Preserving Encryption (FPE):
- Encrypts data while maintaining its original format, ensuring compatibility with legacy systems and compliance requirements.
Real-Time Monitoring:
- Tracks user activity related to sensitive data access and generates alerts for unauthorized or anomalous behavior.
Automated Data Classification:
- Uses machine learning to identify high-risk values like PII or PHI, enabling organizations to prioritize protection efforts.

Acquisitions and Product Expansion

Introduced an Open-Source Data Governance Integration Initiative, enabling seamless interoperability with tools like Matillion and Alation.
Launched support for advanced encryption techniques like format-preserving encryption (FPE) directly within Snowflake environments.
Expanded its capabilities to support migrations from legacy systems like Teradata to modern cloud platforms such as Snowflake.

These initiatives demonstrate ALTR’s commitment to innovation and its ability to adapt to evolving market demands.

ALTR AI and New Features

ALTR frequently updates its platform with new features designed to address emerging challenges in data security:

Snowflake Native Format-Preserving Encryption Using Snowpark:
- Allows organizations to encrypt sensitive data natively within Snowflake without disrupting workflows.
Enhanced Real-Time Monitoring:
- Provides more granular insights into how sensitive data is accessed across cloud environments.
Slack Integration:
- Enables real-time collaboration on policy enforcement directly within Slack workspaces.
Rate Limiting for Sensitive Data Queries:
- Prevents overconsumption of sensitive datasets by malicious actors or compromised accounts.

These updates reflect ALTR’s focus on staying ahead of industry trends while delivering practical solutions for its customers.

Company Culture and Values

ALTR emphasizes innovation, collaboration, and customer-centricity as core values:

The company fosters a culture of transparency and accountability both internally and externally.
It prioritizes diversity within its workforce while maintaining a strong focus on employee development.
ALTR’s leadership team brings decades of experience in enterprise software development, ensuring that the company remains at the forefront of technological advancements.

The recent addition of Laura Malins as VP of Product underscores ALTR’s commitment to enhancing its product offerings through user-focused innovation.

User Base and Community

ALTR serves a diverse range of customers across industries such as healthcare, financial services, telecommunications, education, and government. Notable clients include:

Virgin Pulse
Large healthcare providers
Multinational financial institutions

The platform is particularly popular among organizations leveraging Snowflake for their cloud-based analytics needs. ALTR also engages actively with its community through:

Training sessions
Webinars
Open-source initiatives
These efforts help foster a collaborative environment where users can share best practices and learn from one another.

ALTR

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