US-based data compliancy software producer InCountry has received $18m in funding from investors including Accenture Ventures and Bloomberg Beta, on behalf of professional services firm Accenture and media group Bloomberg respectively.
Mubadala Capital, a venture capital arm of sovereign wealth fund Mubadala Investment, co-led the round with VC firm Caffeinated Capital. It also featured Arbor Ventures, Felicis, Ridge Ventures and Team Builder Ventures.
InCountry provides software that helps organisations keep data within specific national borders in order to comply with local data management regulations.
The funding will support the company’s international expansion plans. In addition to investing, Accenture plans to utilise the technology in its myNav cloud platform.
Accenture Ventures’ managing director, Tom Lounibos, said: “Our investment in InCountry aligns directly with Accenture Ventures’ mission to discover and grow the next generation of emerging technologies.
“InCountry’s solution sits at the intersection of the cloud, security and compliance priorities of our clients and can have a significant impact on how they operate in the cloud.”
Bloomberg Beta led a $7m seed round for the company in May 2019 that included Caffeinated Capital, Felicis Ventures, Ridge Ventures, CRV, Global Founders Capital, Parade Ventures, MState and undisclosed individuals.
InCountry added $15m in a series A round two months later. It was co-led by Mubadala, Arbor Ventures and Global Founders Capital, and also featured Caffeinated Capital, Felicis Ventures, CRV, Team Builder Ventures and unnamed others.
