Data security company, Immuta, has closed a US$100mn Series E funding round at a US$1bn valuation.
The new investment brings Immuta’s total financing to date to US$267mn, with the company planning to use the funds to meet growing data security and privacy demands by accelerating secure data access across all cloud platforms.
NightDragon led the funding round, but it also included new investor Snowflake Ventures, the venture capital arm of the Data Cloud company, as well as participation from existing investors Dell Technologies Capital, DFJ Growth, IAG, Intel Capital, March Capital, StepStone, Ten Eleven Ventures, and Wipro Ventures.
Improving cloud data access and data security
Founded in 2015, Immuta is a market leader in secure Data Access, providing data teams one universal platform to control access to analytical data sets in the cloud.
Earlier this year, Immuta announced record growth in 2021, increasing commercial annual recurring revenue (ARR) by more than 100 percent, doubling its customer base, and continuing its global expansion into EMEA and APJ.
“There is a major shift in the modern data stack as organisations scale to derive value from their data more quickly, while also protecting their data assets and adhering to privacy regulations. We’ve entered the next wave of the cloud data evolution where automation and security are essential to meeting modern cloud and data demands. This new funding will help propel Immuta into our next phase of growth as we continue to revolutionise cloud data access and data security,” said Immuta CEO Matthew Carroll.
Using funding to expand partnerships and develop technology
From startups to global enterprises, organisations are struggling to provide access to data at scale while ensuring it’s done securely and in accordance with local rules and privacy regulations. Immuta offers customers the ability to secure their data in the cloud at a more granular level and easily enforce data security policies.
“As the threat landscape continues to escalate and cloud migration continues, we’re seeing increased global interest in the need for secure data access solutions. Immuta is the clear market leader in providing secure data access, providing data teams with one universal platform to control access to data at scale. Many of the world’s top data-driven organisations – Roche, Mercedes-Benz Group, IAG, and the U.S. Army – rely on Immuta every day to quickly, safely, and efficiently share more data with more users. We’re excited to be making this investment in such a critical part of the modern data stack,” said Dave DeWalt, former CEO of FireEye, McAfee, Documentum and now Founder and Managing Director at NightDragon.
Immuta recently announced its expansion into the Australian and New Zealand markets with the addition of new customers and new hires in the region. In 2021, Immuta further expanded its partner network of top cloud data platforms with native integrations to include Snowflake, Databricks, Amazon, Google, Azure, and Starburst.
“With this expanded partnership, enterprise customers can benefit from both Snowflake’s native data policies for data governance and Immuta’s simple, centralised, and comprehensive method for managing and automating data policy within specific workflows. Together, customers have a solution for more seamless enforcement of data policy, ultimately allowing for more customer value. We look forward to partnering with Immuta through the next stages of its growth,” said Christian Kleinerman, Snowflake SVP of Product.