'We'll use $40m funding to rapidly grow UK and US teams'
The CEO of Privitar says the data privacy software company plans to “rapidly grow” its teams in London and the United States following a $40 million funding round.
London-headquartered Privitar has already opened offices in Boston, New York City, Singapore, Paris and Munich.
Jason du Preez told BusinessCloud that it willgrow its teams in London, Boston and NYC following the Series B round, which was led by global venture capital firm Accel.
“We will use this investment to accelerate the growth of the company globally,” he said.
“More particularly, we expect rapid growth in teams, particularly in the UK and the US, as we scale out our sales organisation and invest in accelerating product development and innovation.”
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.
Privitar’s customers include some of the world’s best-known brands, such as HSBC, NHS Digital and BT.
Du Preez continued: “Privacy is a worldwide challenge with a rapidly evolving consumer perspective and responding data protection regulations across the globe, such as the General Data Protection Regulation (GDPR) in Europe and California Consumer Privacy Act (CCPA) in the United States.
“The world is increasingly aware of the importance of protecting private information and privacy engineering is becoming intrinsic to the way organisations manage and share data.
“Privitar is enabling data-driven organisations across a variety of industry verticals including financial services, healthcare, telecommunications and retail.
“Privacy engineering discipline should be applied in any data-driven organisation looking to build for the long-term.”
“We are a b2b enterprise software business, and the US market represents close to half of the global market share. This investment will drive international expansion in line with this view.”