Software firm Privitar lands £3m in funding

Privacy-enhancing software firm Privitar has landed £3m in a round led by venture capital firm Illuminate Financial Management.

The round also drew support from existing investors, including private capital group 24Haymarket and IQ Capital.

Founded in 2014, the London-based firm operates at the intersection of Big Data, data science and cybersecurity, providing software that adds privacy protection to data infrastructures.

“Big data analytics is highly topical for many industries in today’s world with banking and financial services going through ground-breaking times” said Mark Whitcroft, founding partner at Illuminate Financial Management.

“Privitar’s solution enables companies to balance applying data science techniques whilst addressing data governance requirements. Illuminate Financial is excited to be backing this promising London-based software company and their world-class team,” he added.

Privitar says it will use the funds to accelerate growth in the UK and expand its European footprint.

Jason du Preez, CEO at Privitar, commented: “We are excited to be partnering with Illuminate Financial with their deep connectivity into one of our target vertical markets. They will support our strategy to provide the leading solutions for Banking and Capital Markets institutions. This complements the breadth of sector access facilitated by our existing investors.”

The news follows on from Privitar’s $1m+ seed funding round, announced in July last year.