Immuta, the US-based developer of an automated data governance platform, attracted $40m on Tuesday in a series C round led by Intel Capital, the corporate venture capital arm of semiconductor producer Intel.
Citi Ventures and Dell Technologies Capital, respective subsidiaries of financial services firm Citi and computer manufacturer Dell, also took part in the round, as did DFJ Growth, Ten Eleven Ventures, Greycroft and Drive Capital.
Founded in 2005, Immuta has built an artificial intelligence-powered software platform to analyse customer data while preserving user privacy, allowing businesses to ensure compliance with regulations such as GDPR and HIPAA.
The company will now explore additional legal fields where its software could be applied and hopes to bolster its machine learning capabilities to the point where it can offer legal indemnity to clients.
Mark Rostick, senior managing director at Intel Capital, said: “Immuta solves a pain point for customers by making it easier and faster to access and use data in a compliant, protected way.
“As organisations need to do more with their data, while facing increasing global data privacy regulations, Immuta is filling an important gap by delivering a platform that automates privacy protection and governance. We’re thrilled to be investing with the Immuta team.”
Citi Ventures and Dell Technologies Capital had previously participated in a $20m series B round for Immuta in mid-2018 that was led by DFJ Growth and also backed by Greycroft and Drive Capital.
Drive Capital and Greycroft had joined forces with Conversion Capital for the company’s $8m series A round in 2016, after Sequoia Capital vehicle Sequoia Apps had contributed to its $1.5m seed round the previous year.
