$80 Million Raised by Privitar
Privitar, the leading data privacy platform, has succeeded in raising $80 million in Series C funding, in a round led by Warburg Pincus, with participation from Accel, IQ Capital, Salesforce Ventures, ABN AMRO and ourselves. The round brings Privitar's total raised within the year to $120 million, an impressive total that will allow the company to further accelerate the development of its data privacy platform, fuel continued innovation, and support key growth initiatives, with a focus on international expansion and increased hiring across sales, services, product development and other areas of the business.
Founded in 2014, and with offices all over the world, Privitar is relied on by numerous organisations worldwide to protect their customers' sensitive personal data and to deliver comprehensive data privacy that frees them to extract maximum value from the data they collect, manage and use.
"Managing sensitive data at enterprise scale and complexity is a real challenge for even the most sophisticated data organizations. By automating the enforcement of data protection strategies, Privitar’s platform makes this achievable in any data-driven organization. We are excited to partner with Warburg Pincus as we continue to pioneer the category,” said Jason du Preez, CEO of Privitar.
This year, Privitar demonstrated their clear momentum by announcing strong results, for example how they trippled their annual recurring revenue year-over-year, an increase in their global headcount by 80%, and the addition of new offices in Austin, Boston, Singapore and Warsaw in order to support customers globally.
Jean-Marc Patouillaud, Managing Partner of Paris headquartered Partech, said: “Data-driven decision making and intelligence are now critical for all businesses. Firms cannot afford to compromise on privacy and confidentiality protection given the potential consequences to brand reputation and breach of regulations. After having led the series A and followed on the series B , we continue our support to Privitar in this series C led by Warburg Pincus while French and continental Enterprise market show a bigger interest in ensuring customer trust."
Find the press release here