Immuta Announces $90 Million in Series D Funding
Investment led by Greenspring will strengthen Immuta’s market leadership and further growth in cloud data access control
BOSTON--(Business Wire / Korea Newswire) May 21, 2021 -- Immuta, the leading provider of cloud data access control, today announced that it has secured $90 million in Series D funding. Immuta will use the investment to further its market leadership position and capture rising demand for centralized, scalable access control across cloud data sets that are increasingly diverse and distributed on multiple compute platforms. The new investment comes less than a year after Immuta’s Series C investment and brings total capital raised to $169 million.
The Series D funding round includes new investors Greenspring Associates, March Capital, NGP Capital, and Wipro Ventures, as well as participation from existing investors Ten Eleven Ventures, Intel Capital, DFJ Growth, Dell Technologies Capital, Citi Ventures, and Okta Ventures. The investment will go towards accelerating Immuta’s product research and development, expanding sales and marketing capacity to capture growing demand in the U.S., EMEA, and APAC, and deepening strategic partnerships within the cloud data ecosystem. Amazon Redshift and Azure Synapse are the latest cloud data platforms to be integrated with Immuta’s platform as part of its latest release announced today.
“We’ve entered a new era in data and analytics fueled by ubiquitous cloud storage, new cloud data management tools, and the rise of DataOps,” said Immuta’s CEO Matthew Carroll. “In this new environment, data teams are challenged to provide secure, scaled access to thousands of cloud data products while maintaining strong security, privacy protection, and auditability. Traditional methods of data access control don’t work, don’t scale across cloud compute platforms, and can limit data utility. Immuta’s platform solves this problem elegantly without requiring data to be moved, copied, or manually provisioned. This new funding will accelerate innovation and GTM expansion so we can deliver our platform to more customers as we lead the charge to define the future of cloud data access control.”
“We looked at other competition in the space and Immuta’s product and solutions are really at the top of the heap,” said Hunter Somerville, General Partner at Greenspring Associates. “From intelligent data discovery, to data access and control, to integration with all the top cloud analytics services, Immuta’s platform is best-in-class. We also liked that Immuta prioritized the data architecture and engineering team, from an end-sales standpoint, which we didn't see from other solutions in the space.”
“We invest in tomorrow’s winners,” said Jed Leidheiser, Partner at March Capital. “I look for companies that have tremendous customer satisfaction today, with architectures built for platform expansion, and an A+ team to execute. That’s Immuta. They have the ability to operate on any data source, any infrastructure, any cloud platform — and on top of that, their customer list is rapidly growing.”
Since its founding in 2015, Immuta has built strategic partnerships with the leading cloud data technology providers and enhanced its platform to provide a single place for data teams to automate data across control across their entire cloud infrastructure. As the market leader, Immuta helps large enterprises scale centralized data operations and analytics teams and helps innovative technology companies build and scale data-powered apps and services. In its last fiscal year, Immuta grew worldwide bookings by more than 115%, doubled its full-time headcount, and expanded its global base of customers including Aon, Credit Suisse, Daimler, Flatiron, IAG, S&P Global, and US Army.
“Immuta has been a longtime partner of Databricks and we are excited to see this impressive round of funding. We look forward to helping bring their cloud data access control capabilities to more joint customers as they're building their future data and analytics stack on the lakehouse platform,” said Ali Ghodsi, CEO and co-founder of Databricks.
“One of the really big advantages that Immuta has given us, from a return-on-investment perspective, is our ability to make change happen faster,” said Dave Abrahams, Executive
General Manager of Data, IAG, one of Australia and New Zealand’s largest general insurance providers and an Immuta investor. “Previously, it would take months of manual assessments, and working through the challenges around how we could access and use data to help create the best products for our customers. We are now able to do that in an instant, globally, across all of our data.”
For more information about Immuta, visit www.immuta.com. Join the Immuta conversation on LinkedIn and Twitter.
Immuta is the market leader in cloud data access control, providing data engineering and operations teams one universal platform to control access to analytical data sets in the cloud. Only Immuta can automate access control for any data, on any cloud service, across all compute infrastructure. Data-driven organizations around the world rely on Immuta to speed time to data, safely share more data with more users, and mitigate the risk of data leaks and breaches. Founded in 2015, Immuta is headquartered in Boston, MA. Learn more at www.immuta.com.
Greenspring Associates was founded in 2000 to focus solely on venture capital investments. Through a comprehensive platform, the Firm serves as a lifecycle partner for fund managers and entrepreneurs, investing across multiple stages, sectors and geographies. Greenspring Associates currently manages over $12 billion in committed capital across a variety of specialized venture strategies on behalf of a diverse group of global investors. For more information on Greenspring Associates, please visit its website at www.greenspringassociates.com.
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