Data privacy startup Privado raises $14 million in funding from Insight, Sequoia
Data privacy startup Privado said it has raised $14 million (about Rs 111 crore) in a Series A round co-led by New York- based fund Insight Partners and Sequoia Capital India. Existing investors Together Fund and Emergent Ventures also participated in the financing round.
This comes close on the heels of Privado’s seed funding of $3.5 million in January this year. The funding will be used to enhance Privado’s technology stack, build out the team and grow its open-source community.
Founded in 2020 by Jasdeep Cheema, Prashant Mahajan, and Vaibhav Antil, Privado addresses privacy issues facing businesses. The company is an open-source code scanning solution built for privacy that identifies data usage, discovers data flows and flags issues like excessive user permissions or data leakages to logs.
The company connects with source code management tools like GitHub and provides instant visibility into data flows to privacy teams. Privacy teams can also enforce their public-facing privacy policies in code, helping them avoid fines. Privado currently manages over 600,000 code commits for companies like Thrasio and Zego, among others.
“Current tools fall short because they sit outside the development lifecycle where decisions on data collection, and sharing are made,” said Antil, co-founder and CEO at Privado in a statement. “The new funding will allow us to further our mission of embedding privacy into software development, and we’re excited to partner with Insight Partners and Sequoia Capital India on this journey,” he added.
In addition to the code scanning solution, Privado has launched a free tool for Android developers to generate Play Store data safety reports.
“Privado has created an intuitive platform that allows data and engineering teams to ensure all development changes are privacy compliant in real-time. With its experienced team of founders and innovative architecture, Privado has already made a name for itself in the DevSecOps space,” said Nikhil Sachdev, managing director at Insight Partners, in a statement.
This comes close on the heels of Privado’s seed funding of $3.5 million in January this year. The funding will be used to enhance Privado’s technology stack, build out the team and grow its open-source community.
Founded in 2020 by Jasdeep Cheema, Prashant Mahajan, and Vaibhav Antil, Privado addresses privacy issues facing businesses. The company is an open-source code scanning solution built for privacy that identifies data usage, discovers data flows and flags issues like excessive user permissions or data leakages to logs.
The company connects with source code management tools like GitHub and provides instant visibility into data flows to privacy teams. Privacy teams can also enforce their public-facing privacy policies in code, helping them avoid fines. Privado currently manages over 600,000 code commits for companies like Thrasio and Zego, among others.
“Current tools fall short because they sit outside the development lifecycle where decisions on data collection, and sharing are made,” said Antil, co-founder and CEO at Privado in a statement. “The new funding will allow us to further our mission of embedding privacy into software development, and we’re excited to partner with Insight Partners and Sequoia Capital India on this journey,” he added.
In addition to the code scanning solution, Privado has launched a free tool for Android developers to generate Play Store data safety reports.
“Privado has created an intuitive platform that allows data and engineering teams to ensure all development changes are privacy compliant in real-time. With its experienced team of founders and innovative architecture, Privado has already made a name for itself in the DevSecOps space,” said Nikhil Sachdev, managing director at Insight Partners, in a statement.
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