Privacy-enhancing software company Privitar has raised £3m ($2.9m) in a new round of funding led by Illuminate Financial Management.
Working across big data, data science and security, Privitar’s software adds privacy protection to data infrastructures. This allows companies or government departments to publish and share sensitive data while ensuring privacy and regulatory compliance.
The company targets highly-regulated industries such as banking, telecoms and government and says it intends to use the news capital to build on its growth in the UK across Europe.
Privitar hopes that by partnering with Illuminate it will gain greater access to clients in banking and financial services.
“Every organisation that collects and analyses data is grappling with the issue of data privacy. They are all potential customers for our privacy-enhancing software solution,� said Jason du Preez, Privitar CEO.
“That is why we are excited to be partnering with Illuminate Financial with their deep connectivity into one of our target vertical markets. They will support our strategy to provide the leading solutions for Banking and Capital Markets institutions. This complements the breadth of sector access facilitated by our existing investors.�
24Haymarket and IQ Capital also participated in the round, which follows the $1.2m Privitar raised last year.
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