Immuta revealed it has raised $20 million in Series B funding, which will be used to accelerate global customer growth and extend product leadership.
The funding round was led by DFJ Growth, with participation from new investors, Dell Technologies Capital and Citi Ventures, and existing investors, Drive Capital and Greycroft.
This latest investment comes on the heels of momentum for the company. Immuta grew more than 260 percent YoY in customer revenue in 2017, adding new Global 1000 customers across government, insurance, financial services, and healthcare verticals. The company recently launched its Global Partner Program to capitalize on the ongoing shift within global enterprises from legacy application-centric tools to AI-powered decision-making.
“The law cannot keep pace with technology. As analytics and AI advances faster than any other technology category, the gap between regulation and analytics also increases. Unfortunately, enterprises rely on legacy, application-centric approaches to close this gap, adding complexity and slowing down their data science teams, while wasting millions in capital,” said Matthew Carroll, co-founder and CEO, Immuta. “Immuta has been steadfast in helping enterprises accelerate their AI programs through highly automated data management and dynamic policy controls, resulting in algorithms that are auditable and compliant. This investment validates our success in achieving these goals for our customers and partners.”
For more information about this news, visit www.immuta.com.