With continued profitability & a 300% increase in YoY revenue and customer growth – funds to fuel rapid expansion and investment in Company’s centralized data access governance platform.
Privacera, the cloud data governance and security leader founded by the creators of Apache Ranger™, today announced it has raised $13.5 million in Series A funding to support the increasing demand for automated data security, privacy, and governance in the cloud. The funding was led by Accel who invested based on the tremendous trajectory of the Company and its strong customer base. Equally appealing for the venture firm was the fact that data governance, security, and compliance are becoming table stakes as organizations look to migrate enterprise data to the cloud to drive data analytics. Accel joins early investors Cervin Ventures, Point 72, and Alchemist Accelerator.
Co-founded by Balaji Ganesan and Don Bosco Durai, Privacera empowers enterprises to balance the dual mandate of data governance and security with data discovery, access control, and analytics. Considered by many as “Apache Ranger in the Cloud”, Privacera provides centralized data access governance that extends Apache Ranger’s extensive capabilities beyond traditional Big Data environments to cloud-native services and leading analytics platforms such as AWS, Azure, GCP, and Databricks.
“Our experience building and working with the Apache Ranger community to handle millions of petabytes of data has been invaluable in bringing a fast, easy, and efficient architecture to support data governance and compliance in the cloud. We help our community balance the competing mandates of data democratization while adhering to applicable privacy and industry regulations,” said Balaji Ganesan, CEO, and co-founder, Privacera. “Privacera continues to see unparalleled growth, which validates our ability to provide faster and more efficient on-premise data lake migrations to the cloud and enable easy and secure sharing of information with applicable analysts and data scientists. The recent funding and support from Accel will enable us to continue to exceed the needs of our vibrant and growing community so they can use and share any data and support regulatory compliance through automated data discovery and access control.”
According to a GigaOM report, organizations are being encouraged to leverage the full value of their data for strategic and competitive advantage. Yet, they are conditioned to be vigilant in protecting their data to comply with new privacy regulations such as GDPR and CCPA and some have learned the hard lessons of high-profile data breaches. Data governance is not about authoritarian rule; it is about an order, control, curation, and usability. In an era where organizations must use their data to their greatest advantage, yet protect the privacy and prevent breaches, data governance is the great equalizer, bringing productive coexistence to these seemingly contradictory edicts.
“As enterprises continue to rapidly migrate to the cloud, access to analytics and data sharing without compromising security, privacy and compliance have never been more critical,” said Eric Wolford, venture partner at Accel. “Privacera’s proven ability to help enterprises leverage data responsibly is a testament to their uniquely scalable technology and we’re thrilled to be an early partner to Balaji, Don, and the entire Privacera team.”