UK-based privacy engineering software developer Privitar raised $16m yesterday in a series A round featuring cloud-based enterprise software producer Salesforce and trading platform CME Group.
The corporates, which participated through their Salesforce Ventures and CME Ventures units, were joined by lead investor Partech Ventures as well as IQ Capital, 24Haymarket and Illuminate Financial.
Privitar’s software makes commercially and personally sensitive data more anonymous so documents and files can be shared with third parties or read by machine learning and analytics tools without the risk of data protection breaches or inadvertent sharing.
The company’s customers span sectors such as financial services, government, pharmaceuticals and telecommunications.
The series A proceeds will support an expansion into the US and other key regions, while supporting the deployment of Privitar’s core product and intellectual property in the market.
Privitar raised £3m ($3.9m) in an August 2016 seed round led by Illuminate Financial, with participation from 24Haymarket and IQ Capital. That funding followed an oversubscribed $1m angel round in 2014.