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ABN Amro joins $80m Privitar funding round

ABN Amro joins $80m Privitar funding round

UK-based data privacy startup Privitar has raised $80 million in a Series C funding round led by Warburg Pincus and joined by ABN AMro Ventures.

Accel, Partech, IQ Capital, and Salesforce Ventures all joined the round, which comes less than a year after a $40 million Series B.

Established in 2014, Privitar helps banks and others make the most of big data while ensuring customer information is kept private.

The firm, which counts Citi and HSBC among its clients, says that its centralised platform to protect and manage sensitive data is essential for firms looking to move to modern data platforms such as cloud data lakes.

Last year it saw annual recurring revenue more than triple year-over-year while global headcount increased 80% to more than 140.

The latest funding will be used to continue hiring across sales, services and product development as the company focuses on international expansion.

Jason du Preez, CEO, Privitar, says: "Managing sensitive data at enterprise scale and complexity is a real challenge for even the most sophisticated data organisations.

"By automating the enforcement of data protection strategies, Privitar’s platform makes this achievable in any data-driven organisation."

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