Privacy engineering software company Privatar has closed a $16 million Series A round led by Partech Ventures. CME Ventures and Salesforce Ventures participated, along with existing investors IQ Capital, 24Haymarket and Illuminate Financial.
The funds are earmarked for expansion, core IP, and the acceleration of the product delivery roadmap.
Privatar software protects organizations against the risk associated with the growing amount of personal data they acquire. The company focuses on financial services, telecommunications, pharmaceuticals and government.
“Advanced analytics and machine learning applications are fuelled by data, which is often sensitive,” Privatar CEO Jason du Preez said. “Privitar’s software enables our customers to innovate rapidly while maintaining an uncompromising approach to data privacy. We believe the use of technological controls to protect privacy is essential to preserve customer trust in the data-driven economy.”