Data privacy platform provider Privitar raises $80m in Series C round

Privitar, a UK-based data privacy platform provider, has raised $80 million in a Series C funding round led by global private equity firm Warburg Pincus.

Other investors in the Series C fund round are Accel, Partech, IQ Capital, ABN AMRO Ventures, and Salesforce Ventures.

The latest round of funding is expected to help Privitar to further fast track the development of its data privacy platform, fuel continued innovation, and support important growth initiatives, with a focus on global expansion and increased hiring in areas such as sales, services, and product development.

Cary Davis – Managing Director at Warburg Pincus said: “The advent of data privacy regulations such as GDPR and CCPA, combined with the increasing importance of data analytics in the enterprise, has created a growing need for a privacy solution that protects sensitive data while still retaining its business value. We believe that Privitar is best positioned to help companies address this challenge, with a leading platform that has been successfully deployed at some of the largest and most discerning enterprise customers across financial services, healthcare, and other industries”.

In June 2019, Privitar raised $40 million in a Series B funding round, which was led by Accel.

Data privacy platform provider Privitar raises $80m in Series C round. Image courtesy of Gerd Altmann from Pixabay.

The data privacy platform provider, which was founded in 2014, has clients like HSBC, Citi, the National Health Service (NHS) in the UK, and pharma giant AstraZeneca, helping them to deal with and automate the enforcement of data privacy policies on modern platforms.

Privitar, which has more than 140 employees, had set up new offices in Austin, Singapore, Boston, and Warsaw to support its customers across the world.

Jason du Preez – CEO of Privitar said: “The Privitar platform enables our customers to unlock and use their data to create better products and services while minimizing friction and risk. Large enterprises in regulated industries like financial services and healthcare have been early adopters of data privacy solutions, but all companies should look for ways to use data more safely and more effectively.

“Managing sensitive data at enterprise scale and complexity is a real challenge for even the most sophisticated data organizations. By automating the enforcement of data protection strategies, Privitar’s platform makes this achievable in any data-driven organization.”