LORCA member Privitar raises $40m in a Series B funding round //11.06.19
Privitar, a data privacy software company that’s part of LORCA’s second cohort, has closed a $40m Series B funding round led by global venture capital firm Accel.
Privitar’s software helps clients like HSBC, BT and NHS Digital reduce the threat of advanced privacy attacks and protect their data. When it joined LORCA, the company hoped to benefit from being part of a broader cyber ecosystem and expand its client base. And with this fresh investment injection, it’s planning to accelerate the development of its products to meet demand.
Commenting on the good news, Jason du Preez, CEO of Privitar, said: “The world is increasingly aware of the importance of protecting private information and privacy engineering is becoming intrinsic to the way organisations manage and share data.
“This investment will enable us to scale rapidly in response to global demand and help our customers realise the enormous benefits of data-driven decision making, much faster and with less risk.”
Seth Pierrepont from Accel added: “There has been a noticeable increase in enterprises’ appetite for buying data privacy technology in recent years. Through the team’s deep domain expertise and close ties to academia, Privitar has positioned itself as a thought leader in privacy innovation. We’re excited to be joining Privitar on its mission of becoming the standard for enterprise data privacy.”