Privitar closes £12m Series A led by Partech Ventures

Privacy engineering software firm Privitar has closed a £12m ($16m) Series A round led by Partech Ventures.

The London-based company also drew investment from CME Ventures and Salesforce Ventures.

Existing backers IQ Capital, 24Haymarket and Illuminate Financial also participated.

The firm says it will use the cash to accelerate the delivery of its product roadmap and to expand in the US market.

Jason du Preez, CEO of Privitar, commented: “Advanced analytics and machine learning applications are fuelled by data, which is often sensitive.

“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.”

Privitar  closed a Seed round in the Summer of 2015, followed by a £3m round in August last year.

Jean-Marc Patouillaud, managing partner at Partech Ventures, said: “Data-driven decision making and intelligence is becoming critical for all businesses.

“Firms cannot afford to compromise on privacy protection given the potential consequences to brand and reputation.

“We have decided to invest in Privitar because we see them as an excellent option for organisations that want to get the most of their data while ensuring full customer trust,”he concluded.

The news comes just weeks after Partech Ventures announced the closure of a €400m technology investment fund.

To check out the latest UK tech investments, visit the Tech City News Investment Tracker.