Immuta, a data security firm, announced an additional strategic investment to its Series E funding round from ServiceNow.
This investment reportedly comes “at a time of immense growth for Immuta and its Data Security Platform SaaS offering, which saw annual recurring revenue increase by 200% over the last fiscal year.”
With this investment, Immuta will “continue growing its cloud offering as demand for comprehensive data security soars in the US, as well as the EMEA and APJ regions.”
Building upon Immuta’s continued growth in 2022, the company will “continue to leverage its funding to accelerate product innovation as it expands its Data Security Platform.”
The funding will also be used “to deepen strategic partnerships within the cloud data ecosystem and strengthen its commitment to customer success.”
Lou Fiorello, vice president and general manager of security products at ServiceNow, said:
“ServiceNow is committed to investing in leading technologies that drive secure digital transformation outcomes. Immuta has proven itself to be a clear leader in data security and we see Immuta’s product innovation and platform as enablers for organizations to maximize the value of their cloud investments.”
Matthew Carroll, CEO, Immuta, said:
“Immuta built excellent momentum in 2022 and continued to establish itself as a leading SaaS solution for data security over the past year. I’m proud of our continued growth on all fronts – financial, partnerships, employees, customers, products, and geographies – as it illustrates our tried and true product, innovative teams, enthusiastic customer support, and strong company culture. This momentum, fueled by additional funding from ServiceNow, will help launch Immuta into our next phase of growth and meet the growing data security demands we’re seeing from our customers.”
Other highlights from Immuta’s last fiscal year include:
Innovation:
Immuta’s innovation continues “to drive company growth and recognition as a leader in the data security space.”
In March 2022, Immuta was “named one of The World’s Top 50 Data Startups by Andreessen Horowitz (known as ‘a16z’), a venture capital firm in Silicon Valley, California that backs bold entrepreneurs building the future through technology.”
Immuta also “introduced several product updates in the last year, including launching Immuta Detect, a new product that provides continuous user and data activity monitoring, enabling quicker and more accurate risk remediation and improved data security posture management across cloud data platforms.”
Detect is now “a key pillar of Immuta’s comprehensive Data Security Platform that provides sensitive data discovery, security and access control, and data activity monitoring for customers.”
Partnerships:
In 2022, Immuta further “strengthened and expanded its partner network of top cloud data platforms, which now comprises Snowflake, Databricks, Amazon Redshift, Google BigQuery, Azure Synapse, and Starburst.”
Snowflake and Immuta continued “to build their partnership last year, with new joint solutions such as Snowflake Data Sharing and Snowflake Data Lineage.”
Snowflake also “awarded its Ready Technology Validation and FSI Competency Badge to Immuta in 2022.”
Other partnership milestones “include Immuta’s addition of policy enforcement to Unity Catalog in the Databricks lakehouse platform, and its native Google BigQuery integration for joint customers.”
People & Culture:
Immuta continues “to invest heavily in its people and culture.”
The company experienced “a 63% growth in employee headcount last year, adding employees across teams and geographies.”
This included “the hiring of some new key executives including Scott Fuselier (CRO), Greg Sundermann (VP, Revenue Operations), Beth Fulton (VP, Customer Success), and Jeanette Jones (VP, Alliances).”
To support this expansion and meet growing international demand, Immuta “grew its office space in Columbus, OH and expanded operations throughout the US, as well as London, Canada, Australia, and New Zealand.”