Venture Capital News: Immuta Pulls In $40M
BOSTON, MA, Immuta, the automated data governance company, has secured $40 million in funding.
Immuta, the automated data governance company, today announced that it has secured $40 million in funding to extend its leadership position in the growing market for automated data governance and privacy solutions. The Series C round was led by new investor Intel Capital, with participation from new investor Ten Eleven Ventures and existing investors DFJ Growth, Dell Technologies Capital, Greycroft, Drive Capital and Citi Ventures.
Immuta pioneered automated data governance with a modern, cloud-native platform for organizations that work with sensitive data subject to regulation and business rules. Immuta's platform automates data access control, security and privacy compliance, ensuring each user who queries data sees only the data they're supposed to see, for their approved purpose or role. The company has integrated its platform with leading cloud data and analytics platforms, including Databricks, Snowflake and Amazon Web Services, making it easy and frictionless for customers to deploy Immuta, see immediate value, and improve return-on-investment.
"Since Immuta's founding in 2015, we've been focused on solving one very hard problem: how to enable organizations to do more with their data while also doing right with their data," said Matthew Carroll, co-founder and CEO, Immuta. "With each passing quarter, we're seeing accelerating demand from data-driven leaders that need to automate how data is accessed, shared and analyzed so they remain compliant with an ever-growing set of regulations, and to avoid costly breaches or data leaks. The investment we're announcing today from Intel Capital and Ten Eleven, along with our existing investors, will help us accelerate platform innovation, enhance and expand our strategic partnerships, and bring to market new, industry-specific solutions to automate compliance with HIPAA, CCPA, COPPA and other regulations."
Immuta's blue-chip enterprise customer base spans a range of industries including financial services and fintech, insurance, healthcare and digital health, government, manufacturing, and internet/consumer tech. Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions, recently purchased Immuta to automate data privacy and governance.
"Aon's innovative Data & Analytic Services Platform connects data, technology, expertise and partnerships to generate insights and distribute new solutions that help clients make better decisions," said Steve Petrevski, SVP and General Manager, Data & Analytics Services at Aon. "By incorporating Immuta's automated governance and privacy capabilities, we have enhanced our overall strength and security of the platform. With its Series C funding, we look forward to continued innovation from Immuta to help Aon with our data and analytics initiatives."
Over the last 12 months, Immuta has invested heavily in its platform by adding new privacy and security automation capabilities designed to help organizations fully leverage cloud-based data analytics and data sharing, even on their most sensitive data sets. This funding will expand Immuta's market-leading footprint and accelerate the development of its automated data governance platform by verticalizing the law with industry-specific solutions.
"Immuta solves a pain point for customers by making it easier and faster to access and use data in a compliant, protected way," said Mark Rostick, vice president and senior managing director, Intel Capital. "As organizations need to do more with their data, while facing increasing global data privacy regulations, Immuta is filling an important gap by delivering a platform that automates privacy protection and governance. We're thrilled to be investing with the Immuta team."
"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," said Mark Hatfield, founder and general partner of leading cybersecurity investment firm Ten Eleven Ventures. "We look forward to helping this innovative and proven organization accelerate its already impressive growth."
For more information about Immuta, visit www.immuta.com.
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About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US$12.9 billion in more than 1,582 companies worldwide, and 692 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
Immuta was founded in 2015 based on a mission within the U.S. Intelligence Community to build a platform that accelerates self-service access to and control of sensitive data. The Immuta Automated Data Governance platform creates trust across data engineering, security, legal, compliance, and business teams so they can work together to ensure timely access to critical data with minimal risk, while adhering to global data privacy regulations including the GDPR, CCPA and HIPAA. Immuta's automated, scalable, no-code approach makes it easy for users to access the data they need, when they need it, while protecting sensitive information and ensuring customer privacy. Selected by Fast Company as one of the World's 50 Most Innovative Companies, Immuta is headquartered in Boston, MA with offices in College Park, MD and Columbus, OH. Learn more at www.immuta.com.
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