- Leading data privacy platform provider Privitar announced it raised $80 million in Series C funding led by Warburg Pincus
Leading data privacy platform provider Privitar announced it has raised $80 million in Series C funding led by Warburg Pincus with participation from Accel, Partech, IQ Capital, Salesforce Ventures, and ABN AMRO Ventures.
This round of funding enables Privitar to further accelerate the development of its data privacy platform, fuel continued innovation, and support key growth initiatives with a focus on international expansion and increased hiring across sales, services, product development, and other areas of the business.
Warburg Pincus is known as a leading global private equity firm with significant expertise in venture capital and growth investing. And the firm invested over $17 billion in tech companies since launching. Some of Warburg’s most recent investments include CrowdStrike, Contrast Security, and BitSight.
As organizations are embracing data analytics and moving to modern data platforms like cloud data lakes, having a centralized platform to protect and manage sensitive data at scale becomes essential in order to reduce the time it takes to make data available to users, protect against insider threats, and reduce the risk of a breach.
Privitar is working with leading enterprise customers like HSBC, Citi, the UK’s National Health Service, and AstraZeneca to manage and automate the enforcement of data privacy policies on modern platforms.
Privitar recently announced strong results with clear momentum last year. For example, Privitar more than tripled annual recurring revenue year-over-year. And Privitar’s global headcount increased 80% as the company now has over 140 employees.
“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. We are excited to partner with Warburg Pincus as we continue to pioneer the category.”
Privitar CEO Jason du Preez
“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. We see an enormous opportunity ahead of the company and are excited to partner with Jason and the rest of the Privitar team to support the next phase of the company’s growth.”
-Cary Davis, Managing Director at Warburg Pincus