19 Jul Privacy Tech Company Raises $16 Million in Series A Funding
Last Monday, software privacy engineering firm Privitar got $16 million in a Series A funding which will be used to accelerate product delivery and developing core IP. The funding round involved the participation of CME Ventures, Partech Ventures, and Salesforce Ventures.
The investment is a reference point that reinforces the importance of privacy engineering, with a growing number of institutions prioritizing data-driven operations that require customer privacy protection. These companies are also obliged to follow laws such as the General Data Protection Regulation (GDPR).
Privacy risks have been a growing concern for many companies and consumers due to the rapid increase of personal data being generated and collected online. Privatar’s software is designed to aid companies in managing these risks while upholding data privacy.
According to a report, the worldwide privacy engineering industry is predicted to rise over $50 billion, brought by serious privacy regulation issues and public sentiments that compel businesses to prioritize data security.
Source: Growth Business