Data privacy software company Privitar has raised $40m of Series B investment, led by Accel Partners.
Privitar is a provider of data privacy software to large enterprises - with a particularly strong customer base in financial services -helping them to meet compliance requirements and protect user data.
MTech Capital's founders Brian McLoughlin and Kevin McLoughlin invested in Privitar's seed round in 2016.
Data privacy is now top of mind. Following high-profile events like the Equifax breach and the Cambridge Analytica scandal, consumers around the world are increasingly concerned with how enterprises are handling their personal data. Additionally, regulation and consumer rights around data protection are growing, with the introduction of General Data Protection Regulation (GDPR) in Europe and California Consumer Privacy Act (CCPA) in the United States. Privitar will use the investment to accelerate the development of its privacy engineering products, providing a comprehensive set of capabilities that will enable its customers to publish and share valuable data-driven insights in an efficient, trustworthy, and compliant way. Its customers include some of the world’s best-known brands, such as HSBC, the UK’s National Health Service (NHS Digital) and BT.