Monday, September 26, 2022
HomeInsightFunding Alert Data Security Startup Privado raises $17.5 mn in funding

[Funding alert] Data Security Startup Privado raises $17.5 mn in funding

Data privacy startup Privado has raised $17.5 million in its Series A funding round from Insight Partners and Sequoia Capital India.
Team Privado

Data privacy startup Privado has raised $17.5 million in its Series A funding round from Insight Partners and Sequoia Capital India.

Other investors including existing investors Together Fund and Emergent Ventures, also participated in this round.

The startup plans to use the funds to grow its technology stack, build teams, and grow its open-source community.

Read also – [Funding alert] EV startup Ultraviolette Automotive raises funding

Dover, US-headquartered data privacy startup Privado was founded in 2020 by Vaibhav Antil, Jasdeep Cheema, and Prashant Mahajan, It is an open source static scanning tool for privacy and security teams that helps teams track data usage and data flow to and from applications.

It also helps developers fix privacy vulnerabilities in the product such as personal data leak in logs.

“Current tools fall short because they sit outside the development lifecycle where decisions on data collection, and sharing are made,” said Antil, co-founder and CEO at Privado.

 “The new funding will allow us to further our mission of embedding privacy into software development, and we’re excited to partner with Insight Partners and Sequoia Capital India on this journey,” he added.

The startup has launched a free tool for Android developers to generate Play Store data protection reports. It currently manages over 600,000 code commits for companies like Thrasio, Zego, and others.

Read also – [Funding alert] SaaS platform Scalenut raises $3.1 mn in funding

“Privado has created an intuitive platform that allows data and engineering teams to ensure all development changes are privacy compliant in real-time. With its experienced team of founders and innovative architecture, Privado has already made a name for itself in the DevSecOps space,” said Nikhil Sachdev, managing director at Insight Partners.

About Privado

Privado is a code scanning solution purpose-built for privacy that discovers personal data, use of data, data flows, leakages to logs & flags privacy issues in the code for GDPR violations or common weakness enumeration (CWE) vulnerabilities.

Privado connects with source code management tools like GitHub and within minutes provides visibility into data flows to privacy teams which otherwise would have taken months of back & forth with product managers & developers. Unlike automated data discovery tools that only scan stored data and unlike manual assessment-led software, Privado automatically surfaces privacy violations across the complete data lifecycle, prompting developers to fix code BEFORE pushing to production.

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