Immuta, an automated data governance platform, has closed its latest funding round on $40m, with its goal of growing its position in the market.
The investment was led by Intel Capital, with contributions also coming from Ten Eleven Ventures, DFJ Growth, Dell Technologies Capital, Greycroft, Drive Capital and Citi Ventures.
Over the past year, the RegTech has invested heavily into its platform by adding new privacy and security automation capabilities, which will boost users’ data analytics and data sharing capabilities. With the fresh equity boost, Immuta will expand its footprint and increase the development of its technology.
Immuta is an automated data governance platform which improves an organisation’s data access control, security and privacy compliance. Its platform has integrated its platform with cloud data and analytics platforms including Databricks, Snowflake and Amazon Web Services to make its services easy to deploy.
Its services are used in the financial services, FinTech, insurance, healthcare, government, manufacturing and internet industries.
Ten Eleven Ventures founder and general partner Mark Hatfield said, “As cloud data analytics platforms rapidly grow in scale and importance, compliance and protection solutions are necessary to unlock the full potential of what can be done with data safely and ethically. Immuta’s ability to combine law and technology to create unprecedented secure and protected data access is technically impressive and deeply necessary.
“We look forward to helping this innovative and proven organization accelerate its already impressive growth.”
The company raised its Series B round back in 2018, pulling in $20m from DFJ Growth, Dell Technologies Capital, Citi Ventures, and previous investors Drive Capital and Greycroft.
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