A British tech startup that builds tools to de-identify vast data sets has raised £12m in series A funding.
The investment will pave the way for Privitar to expand into the US and deliver its product roadmap.
It comes ahead of the introduction of the EU’s new General Data Protection Regulation (GDPR) next year.
Privitar claims its software can analyse patterns in sensitive data without running the risk of violating the new rules.
It goes beyond simply removing names and dates of birth. The tools separate any data, such as location, that could identify individuals.
The investment round was led by Partech Ventures, with CME Ventures and Salesforce Ventures also participating. Existing investors IQ Capital, 24Haymarket and Illuminate Financial reinvested. The firm has no raised around £16.5m.
Jean-Marc Patouillaud, Managing Partner, Partech Ventures, said: “Data-driven decision making and intelligence is becoming critical for all businesses. Firms cannot afford to compromise on privacy protection given the potential consequences to brand and reputation.
“We have decided to invest in Privitar because we see them as an excellent option for organisations that want to get the most of their data while ensuring full customer trust.”