Home / SmartTech / Privitar raises $ 80 million so companies can use big data without compromising privacy

Privitar raises $ 80 million so companies can use big data without compromising privacy



Privitar, a UK startup that helps companies embed privacy into their data projects, raised $ 80 million in a Series C funding round led by Warburg Pincus with the participation of Accel, Partech, IQ Capital, Salesforce Ventures and ABN collected AMRO Ventures.

Privitar, based in London, was founded in 2014 and enables companies to add value from data without compromising their customers' privacy and confidentiality. The platform is about enabling companies to use large, sensitive amounts of data in compliance with regulations and ethical data principles.

For example, Privitar can embed invisible watermarks in protected data so that data can be distributed without permission easily traced back to the responsible party. Privitar also offers data protection development tools for de-identification that take into account the context in which the data is accessed. For example, companies may want to control which employees or third parties have access to certain data and ensure that they cannot access other data sets that could be used in a "link attack" (when anonymised data from multiple data sets are re-combined) ( Identify people).

Regulations

The growing number of data protection regulations, such as the European General Data Protection Regulation (GDPR) and the California CCPA, which came into force at the beginning of this year, have been a blessing for data protection-oriented measures for startups. Already in July, InCountry raised $ 1

5 million to help multinational companies comply with data residence regulations, while Very Good Security raised $ 35 million to help financial and healthcare providers protect their customers' data.

Privitar's recent increase takes less than a year. After completing a $ 40 million round of financing, the new cash flow is further evidence that investors continue to view privacy as a lucrative business. The company said it will use its latest investment to expand its platform capabilities, hire across departments, and focus on expanding its presence in international markets.

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Privitar now claims 140 employees across its hubs in London, Boston, Austin, Singapore and Warsaw. His clients include several big names, including the UK's National Health Service (NHS).

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