Today we are pleased to announce our Series C investment in Immuta. Immuta enables the safe and ethical use of data for BI, analytics, and data science through its Automated Data Governance platform. We think the company’s approach and traction are incredibly compelling, and we look forward to helping them further their reach in this next stage of growth.
The challenge of safely accessing data – in the cloud, on premise and in hybrid environments – in a way that is easy for users, but still in compliance with the robust privacy regulations, has been on our minds for some time. As the CCPA regulation joins the GDPR and HIPPA as part of a strengthening regulatory ecosystem, it becomes even more critical for companies to have an automated, easy-to-use solution to utilize data in a compliant way.
Data, especially as it is stored and processed in hybrid cloud warehouses and analytics platforms, is now too complex and dynamic for traditional, rule-based compliance practices to be effective. Additionally, cloud-based data science and machine learning platforms are experiencing strong growth. These platforms require an easy-to-use compliance and security layer in a “best-supporting actor” role. The data engineers spearheading their use are increasingly subject to risk if the wrong data gets into the wrong hands.
Over the past years, we have evaluated several solutions focused on providing a better way for companies to safely and ethically use their data. When we saw how Immuta approached the challenge, several factors immediately impressed us:
• Immuta is mission-driven and laser-focused on the ambition to enable the legal and ethical use of data. The company is committed to doing so in a way that allows data architects, engineers, and scientists to give their teams faster and easier access to data, but also safely govern data use with dynamic, flexible policies that require no code to implement. It’s a scalable solution that allows team members to access the data they need when they need it, while protecting sensitive information and ensuring privacy. It is invisible to downstream users, so analysts do not experience any friction to their workflow.
• Additionally, Immuta’s founders have a deep and first-hand understanding of the problem from their time working with members of the U.S. Intelligence Community on complex, large-scale datasets and analytics frameworks with data policy controls. We are also big fans of the enthusiastic and aligned team that the founders have recruited to help them in their mission. The team members bring a diversity of experiences to the challenge, but they are all walking in the same direction towards the clearly articulated vision before them.
• The company has established meaningful partnerships with data science and machine learning platforms, as well as cloud data analytics systems and warehouses. Immuta partners include Databricks, Snowflake, and AWS, among many others. Immuta is well-aligned with these companies as part of their go-to-market strategy, and is working to position itself as the “system of record” for automated data governance across these innovative and growing ecosystems.
This investment is one of our first growth investments after a relatively quiet period in which we had exercised restraint in a heated market, preferring to wait for the right opportunity. We are pleased to have the opportunity to now invest in such a promising company as Immuta, at a time that feels right for the portfolio and the market.
We hope that Ten Eleven’s specialized security perspective is helpful to Immuta as they enter their next stage of growth. We appreciate the opportunity to be on this journey and look forward to the milestones ahead.