Formstack, a leading provider of form, document, and eSignature software, announced the acquisition of Open Raven, a data management and security company based in California. This acquisition expands Formstack’s workflow platform to include data discovery, classification, and enhanced security, enabling better data compliance and activation. The move aims to integrate comprehensive data visibility and control into Formstack’s offerings, benefiting over 32,000 customers worldwide.
Dave Cole, the founder and CEO of Open Raven, will assume the role of Chief Technology Officer at Formstack. Cole, formerly the Chief Product Officer of security giants Tenable and CrowdStrike, emphasized the importance of integrating data security into workflows to enhance productivity, efficiency, and cost-effectiveness while addressing increasing security and compliance risks. His leadership is expected to drive the integration of Open Raven’s advanced capabilities into Formstack’s platform.
The Open Raven Data Security Platform is known for its ability to provide 360-degree cloud data visibility, eliminate unnecessary costs and risks, and streamline compliance processes. By incorporating Open Raven’s technology, Formstack will offer customers essential data visibility and control, reducing friction in data capture, activation, and compliance. This marks Formstack’s second acquisition in recent months, highlighting its commitment to expanding its data management capabilities.
Formstack CEO Aled Miles stated that the acquisition will enable customers to do more with their data, enhancing productivity and ensuring secure, compliant workflows. The integration of Open Raven’s technology will allow Formstack to provide broader data capabilities and leverage the power of AI to automate and incorporate compliant data into workflows. Financial terms of the transaction were not disclosed.
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