Immuta raises $90 million in Series D funding

SaaS News -Immuta-raises-$90-million-in-Series-D-funding(source: SaaS Industry)
At a Glance

Immuta, a company that provides cloud-native data governance platforms, has secured $90 million in Series D investment. Businesses may use the company’s services to automate data access control, security, privacy, and compliance. Immuta has grown in popularity in parallel with cloud-native data platforms in the past year due to the pandemic’s expedited cloud migration.

Immuta, a cloud-native data governance platform provider, has raised $90 million in Series D funding. The company assists businesses with automating data access control, security, privacy, and compliance. Immuta said that the funds would expand the firm’s employees, attract new consumers, and improve its goods.

This funding round included new investors Greenspring Associates, March Capital, NGP Capital, and Wipro Ventures and existing investors Dell Technologies Capital, TenEleven Ventures, Intel Capital, DFJ Growth, Citi Ventures, and Okta Ventures.

The company, founded in 2015, claims to have formed key connections with top cloud data technology suppliers and offers a dashboard to manage cloud access control. This year, the company saw a 115% increase in their bookings, doubled its headcount, and expanded its customer base, which now includes Flatiron, Aon, Credit Suisse, Daimler, IAG, S&P Global, the U.S. Army, and other financial services, insurance, health care, and consumer technology companies.

An Immuta spokesperson told VentureBeat, “Immuta founders Matthew Carroll and Steven Touw spent over a decade working with the U.S. intelligence community, tackling some of the most complex and sensitive data governance problems. They started Immuta to help organizations across a range of industries harness the value of their data.”

He said that Immuta works with various data systems, including Databricks, Snowflake, BigQuery, and others. Any user who accesses those platforms where Immuta is integrated benefits from Immuta’s data access control.

Immuta intends to automate the detection, categorization, and labeling of sensitive data in data centers, on-premises, and hybrid cloud infrastructures. The platform offers access control management and self-service analytics while guaranteeing compliance with federal, industry, employment, and contractual standards, reducing the need for data copying, transferring, or manual anonymization.

The spokesperson said, “Cloud data access control is the primary use case. As organizations migrate and mature on the cloud, they need a way to manage and govern access to their data. They need a scalable way to manage and make data available for analytics.”

He said that due to the pandemic’s hastened cloud migration, Immuta has increased in popularity in tandem with cloud-native data platforms in the past year.

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