Investing in Melurna, the AI-era platform bringing visibility to enterprise data flows.
As software has become more connected, companies have gotten remarkably good at protecting what sits inside their own walls.
What they've become much worse at is understanding what happens after their data leaves them.
Every modern application is stitched together from dozens—sometimes hundreds—of third-party services. Analytics tools, AI models, customer support software, marketing platforms, browser extensions, embedded scripts, APIs. Every one of these integrations creates another pathway for sensitive information to travel.
The uncomfortable reality is that most organizations have very little visibility into where that data ultimately ends up.
We believe that blind spot is becoming one of the defining security and privacy problems of the AI era.
That's why we're excited to invest in Melurna.
Most cybersecurity products answer questions like:
Melurna asks a fundamentally different question:
Where is my data actually going?
Instead of scoring vendors or assessing security posture, Melurna tracks the movement of sensitive information itself.
The product works almost like an AirTag for enterprise data. By inserting unique identifiers into data fields, Melurna can observe where information propagates across third- and even fourth-party services, revealing data flows companies often don't realize exist.
That distinction matters.
You can't protect what you can't see.
As AI systems become embedded into every workflow, organizations are sharing more information with more services than ever before. Understanding those data flows is rapidly becoming as important as securing the infrastructure underneath them.
Some startups begin because a market is attractive.
Others begin because a founder becomes obsessed with a problem they simply can't stop thinking about.
Melurna belongs firmly in the second category.
Years ago, Sam uncovered a massive data exposure incident that ultimately became known as Dataspii. During the investigation, he discovered that major enterprises (including household names) were unknowingly leaking sensitive internal information through third-party software and browser extensions. The findings eventually became a detailed public report and front-page news.
For most people, that would have been the end of the story.
For Sam, it was the beginning.
He spent years digging deeper into one question: How can organizations protect data they can't even see moving?
The technology to answer that question wasn't quite ready. Neither was the market. Privacy regulation was still developing, AI hadn't yet transformed enterprise software, and few organizations viewed data movement itself as a first-order security problem.
So he waited. He kept researching. He kept refining the idea.
When AI accelerated the amount of sensitive information flowing between applications and regulation and litigation began raising the cost of getting it wrong the timing finally caught up to the insight.
That founder-market fit is difficult to manufacture.
Melurna isn't an opportunistic startup chasing the latest AI trend. It's the culmination of years of work by someone who has been studying this exact problem long before the rest of the market realized it existed.
We love backing founders whose companies feel less like an idea and more like a life's work.
Every new AI application introduces another decision about what data should or shouldn't be shared.
The challenge is no longer simply deciding whether to use AI. It's understanding what happens to information once it enters increasingly complex software ecosystems.
We believe this trend extends well beyond today's generative AI products.
Over the next decade, organizations will rely on thousands of automated agents, third-party services, and intelligent workflows operating across company boundaries. Visibility into how data moves between those systems will become increasingly important, just for compliance, but for trust.
Melurna's first customers aren't trying to solve every privacy problem overnight.
Instead, the company is starting with cyber insurance underwriting, helping insurers gain a more accurate picture of an organization's real-world data exposure.
We like this approach.
It provides a focused entry point into a market that already values better risk signals, while creating a path toward broader enterprise data visibility over time.
Great infrastructure companies often begin with a narrow workflow before expanding into the platform that naturally follows.
We invest behind founders with unique insight into large, enduring problems.
Melurna sits at the intersection of several trends we believe will define enterprise software over the next decade: AI adoption, increasing privacy expectations, growing regulatory complexity, and the rising importance of understanding how data moves—not just where it lives.
The company is still early. The category itself is still emerging. There is work ahead to prove urgency and build the market.
But we believe the direction is clear.
As enterprises increasingly ask not just "Is our software secure?" but "Where is our data actually going?", we believe companies like Melurna will become an important part of the modern security stack.
We're excited to partner with Sam, Abhishek, and the entire Melurna team as they build it.