Concentric AI has raised $45 million in a Series B funding round to enhance its data management solutions for enterprises. Founded by cybersecurity veterans, the company addresses the growing challenge of data inventory across disparate storage systems. Concentric’s platform uses AI to identify sensitive data and ensure compliance, providing recommendations for improved security measures. With a client base expanding by 300% year-over-year, Concentric is tapping into a data protection market projected to exceed $500 billion by 2032. The new funds will help scale operations and expand the product portfolio.