UK-based data privacy platform Privitar has received a minority strategic investment from Citi.
Following the deal, Citi will join the existing shareholders of Privitar, which includes Partech, Salesforce Ventures, CME Ventures, Illuminate Financial Management and IQ Capital.
With this burst of funding, the company will look to strengthen its international expansion, with a particular focus on the US where it hopes to expand upon its existing teams on the East Coast.
Citi decided to make the investment following its recognition of the strategic importance of privacy engineering.
Privitar delivers data-privacy software to help companies protect their data and to conduct ethical data analysis. Its solution is capable of accelerating and automating the provision of privacy-preserving data to help its customers extract more business value from their data to create deeper insights.
The platform ensures compliance with regulations like GDPR, lets clients control how datasets are lined and where they go, and reduces privacy risk through policy-based tools to remove privacy attacks.
Privitar CEO Jason du Preez said, “We are excited to partner with Citi, particularly as we expand operations in the United States. This deal demonstrates the vital role that data privacy technology has to play in maintaining trust and building confidence in the global data ecosystem.
“Organisations across the globe are looking to improve their products and provide superior customer service. Making decisions based on data-driven insight provides competitive advantage and we are seeing strong, consistent demand from customers that believe in building sustainable data pipelines with the trust and confidence of consumers.”
Last year, the company collected $16m for its Series A investment round, which was led by Partech Ventures, and was supported by IQ Capital, 24Haymarket and Illuminate Financial. The previous round was raised to support the acceleration of its product road map and expansion into the US.
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