Immuta, a leader in data security, today announced a new strategic investment from Databricks Ventures, the investment arm of the data and AI company and pioneer of the lakehouse. The investment builds on a longstanding partnership between the two companies and positions Immuta as one of Databricks’ trusted partners of choice for data security and access control. The investment will go towards product innovation to strengthen the integration between both platforms and new go-to-market initiatives to increase enterprise adoption.
“Immuta is a trusted data security partner,” said Ali Ghodsi, CEO and Co-founder of Databricks. “Over the last six years, we’ve been successfully collaborating to serve global enterprise customers like ADP, Swedbank, and many others. By integrating directly with Databricks Unity Catalog, Immuta provides a seamless way for our joint customers to protect their data in the Databricks Lakehouse.”
“Through our joint partnership with Databricks, Immuta is now embedded in some of the largest and most complex cloud data projects across industries,” said Matt Carroll, CEO of Immuta. “With this new investment, we’re going to make our tight integration with Databricks Unity Catalog even better so that our customers can take data security to a new level and continue to unlock more value from their data.”
This investment comes after a year of immense growth for Immuta during which the company reported a 200% increase in Annual Recurring Revenue (ARR) for its Data Security Platform SaaS offering as it expanded globally into EMEA and APAC. This strong and consistent growth has been fueled by an equally strong track record of funding that includes investments from ServiceNow and NightDragon to support the growing demand for data security from customers around the globe.
Also Read: Towards a Password Less Future: Better Security Alternatives to Password
“As a company with over a million clients doing payroll for millions of people, ADP processes a large amount of data,” said Jack Berkowitz, Chief Data Officer at ADP. “Databricks helps us to manage that data and Immuta plays an important role in administering security and access control. As we look to innovate with new products and implement a multi-cloud strategy, we must treat the data properly – it must be governed.”
“Swedbank needed to build an enterprise-scale advanced analytics platform that would also enforce trust in our security, management, and access to data internally, while protecting our customers’ assets and data,” said Vineeth Menon, Head of Data Lake Engineering at Swedbank. “Immuta and Databricks have been instrumental in helping us build that vision and we are excited to see their partnership go to the next level.”
Forrester Consulting recently conducted a Total Economic ImpactTM study that found Immuta provided benefits totaling $6.08M and an ROI of 175% over three years for a composite organization, which was based on interviews with six Immuta customers. According to the commissioned Forrester study, “The efficiencies the organizations experienced with Immuta coupled with the ability to meet stricter compliance standards enabled them to scale data access across the organizations to better serve internal innovation efforts and, thereby, better meet external customer needs.”
For more such updates follow us on Google News ITsecuritywire News. Please subscribe to our Newsletter for more updates.