San Jose, California-based startup Securiti.ai has announced raising US$50 million in Series B financing led by American venture capital firm General Catalyst, with participation from global investment firm Mayfield, to bring a modern twist to data governance and security.
Securiti.ai claims to be the leader in AI-Powered PrivacyOps, which helps automate all the major functions needed for privacy compliance in one place.
It has links to more than 250 common modern and legacy data sources out of the box. Once the bot grabs the data and creates a central record, humans come in to review the results and make any adjustments and final decisions on how to handle a data request.
The company was formed last year with an all-star team of executives and technologists from Symantec, Elastica, Bluecoat, and Cisco.
Its president and CEO, Rehan Jalil, was previously the executive of Elastica and Cloud Security at Symantec. Before Symantec, Jalil reportedly merged his last company Elastica for US$280 million with Bluecoat.
Symantic subsequently acquired the combined company for US$4.7 billion.
The latest round comes months after the company’s Series A funding and brings its total funds raised to date to $81 million. In just five months, the company has already grown to 185 employees, with plans to increase the headcount in the next year with the new funding.
Jalil said the goal of his startup is to provide an operations platform for customer data, an area he has coined PrivacyOps, to help companies give customers more control over their data.
General Catalyst, the lead investor in this round, said it had closely watched the Securiti.ai team execute on their mission, which convinced the VC firm to double down their investment in the company.
“Privacy of personal information is of growing concern across the globe, and Securit.ai is very well-positioned to help companies properly provide this privacy and comply with increasing regulations,” said Dr. Steve Herrod, Managing Director at General Catalyst.
Earlier, global software investor Insight Partners shelled out US$100 million to acquire Armis, an enterprise IoT security firm valued at US$1.1 billion, according to a statement.