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Intel Capital leads $40M investment in data privacy startup Immuta
From: InfoSec News <alerts () infosecnews org>
Date: Wed, 24 Jun 2020 05:41:07 +0000 (UTC)
https://fortune.com/2020/06/23/immuta-series-c-funding-intel-capital-investments/ By Jeff John Roberts Fortune.com June 23, 2020Privacy is a growing concern for consumers and lawmakers around the world. It is also a growing headache for businesses of all sizes that must comply with a raft of new data rules, including Europe's GDPR regime and California's new CCPA law, or face stiff fines.
The mounting privacy challenge has spawned a cottage industry for lawyers and consultants—but also a niche for data startups looking to disrupt those high-priced professionals by automating the process. One of those startups is Immuta, a Maryland company that on Tuesday announced a $40 million Series C funding round led by Intel Capital to expand its privacy and data governance services.
In an interview with Fortune, CEO Matthew Carroll said he launched Immuta as a way to automate the law—a process he says has failed to keep up with huge technological advances in cloud computing in recent years.
He cited the example of trucking companies that obtain a wealth of data in recruiting drivers, including sensitive health and safety information. Immuta's platform, says Carroll, is able to identify and sequester these various streams of data, and make sure that only authorized individuals can access them.
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