Privado gets $14 million in Series A funding

25 Aug 2022 , 02:09 PM

Privado, a supplier of data privacy solutions, has secured $14 million in its Series A fundraising round, which was co-led by global software investors Insight Partners and Sequoia Capital India and included previous backers Together Fund and Emergent Ventures.

According to a media statement released on Thursday, the business intends to use the financing to improve and extend Privado’s technological stack, expand its personnel, and strengthen its open-source community. Jasdeep Cheema, Prashant Mahajan, and Vaibhav Antil founded Privado in 2020, a company that provides solutions to organizations all around the world who have privacy concerns.

An open-source code scanning tool designed specifically for privacy, called Privado, can identify data consumption, find data flows, and indicate privacy problems like excessive user permissions or data leaks to logs. The public-facing privacy regulations of privacy teams can also be enforced in code, saving them from penalties. For businesses like Thrasio, Zego, and others, Privado asserts that it presently manages over 600,000 code commits.

In January, Privado, which has offices in Delaware and Pune, earned $3.5 million in a preliminary fundraising round. “Data and privacy are the two sides of the same coin. It’s only a matter of time until privacy catches up because data has been one of the main developments in recent years. Abhishek Mohan, the principal, of Sequoia India, stated, “We’re amazed by the consumer response and are thrilled to be a part of their objective.