US-based cloud-native data governance platform, Immuta raised US$ 90 million in a Series D funding round on 20 May 2021.
Investors: New investors Greenspring Associates, March Capital, NGP Capital, and Wipro Ventures, with participation from existing investors Ten Eleven Ventures, Intel Capital, DFJ Growth, Dell Technologies Capital, Citi Ventures, and Okta Ventures. Immuta had raised Series C investment last year. The total funds raised by the company stands at US$ 169 million.
Purpose of the investment: The funds raised will be utilised by the company to further its market leadership position and capture the rising demand for centralized, scalable access control across cloud data sets. It will also invest in product research and expanding sales.
About Immuta
Founded in 2014 by Matthew Carroll, Michael Schiller, Sapan Shah and Steven Touw, Immuta provides a cloud-native data governance platform, helping organizations to automate data access control, security and privacy compliance. It ensures that each user who queries data sees only the data they’re supposed to see, for their approved purpose or role. It creates trust across data engineering, security, legal and business teams, ensuring that there is timely access to critical data with minimal risk while adhering to data privacy regulations.
Amazon Redshift and Azure Synapse are the latest cloud data platforms to be integrated with Immuta’s platform as part of its latest release announced. The company claims that it grew its worldwide bookings by more than 115% in its last fiscal year, doubling its full-time headcount. It also expanded its global base of customers including Aon, Credit Suisse, Daimler, Flatiron, IAG, S&P Global and US Army.
What the CEO has to say: “We’ve entered a new era in data and analytics fueled by ubiquitous cloud storage, new cloud data management tools, and the rise of DataOps. In this new environment, data teams are challenged to provide secure, scaled access to thousands of cloud data products while maintaining strong security, privacy protection, and audibility. Traditional methods of data access control don’t work, don’t scale across cloud computing platforms, and can limit data utility. Immuta’s platform solves this problem elegantly without requiring data to be moved, copied, or manually provisioned. This new funding will accelerate innovation and GTM expansion so we can deliver our platform to more customers as we lead the charge to define the future of cloud data access control.” — Immuta’s CEO Matthew Carroll.
What the investors have to say: “We looked at other competition in the space and Immuta’s product and solutions are really at the top of the heap. From intelligent data discovery to data access and control, to integration with all the top cloud analytics services, Immuta’s platform is best-in-class. We also liked that Immuta prioritized the data architecture and engineering team, from an end-sales standpoint, which we didn’t see from other solutions in the space.” — Hunter Somerville, General Partner at Greenspring Associates.
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