Immuta Secures Strategic Investment from Databricks Ventures to Boost Data Security
Immuta, a renowned name in the field of data security, has announced receiving a strategic investment from the investment arm of Databricks, a data and AI company. The fund will help Immuta in its product innovations to integrate both platforms. The investment will also be useful for new go-to-market initiatives to increase enterprise adoption. The integration with Databricks Unity Catalog will enable the joint customers of both the companies to protect their data in the Databricks Lakehouse.
The Growing Partnership between Immuta and Databricks
The partnership between Immuta and Databricks has come a long way as the two firms have been successfully collaborating for six years. During this period, the two companies have served several global enterprise customers such as ADP, Swedbank, and many others. The partnership has led Immuta to be embedded in some of the most prominent and complex cloud data projects across multiple industries, thus becoming a trusted data security partner.
Investing in Product Innovation
The investment provides a much-needed boost to Immuta’s recent achievements. The company has witnessed immense growth, leading it to report a 200% increase in Annual Recurring Revenue (ARR) for its Data Security Platform SaaS offering, with expansion into EMEA and APAC. This consistent and robust growth has been fueled by an equally strong track record of funding, including investments from ServiceNow and NightDragon. These investments have helped the company cater to the growing demand for data security from customers worldwide.
Building Trust through Secure Data Governance
Immuta and Databricks have been instrumental in helping several companies build innovative and advanced analytics platforms that enforce trust in the security, management, and access to data, while also protecting customer assets and data. ADP, for instance, processes a large amount of data, serving over a million clients who manage payroll for millions of people worldwide. Thus, Immuta plays a crucial role in administering access control and security.
According to Vineeth Menon, Head of Data Lake Engineering at Swedbank, the company had to build an enterprise-scale analytics platform to enforce secure data governance and protect customer assets and data. The partnership between Immuta and Databricks helped Swedbank build that vision from scratch.
Forrester’s Report on Immuta
The Total Economic ImpactTM study conducted by Forrester Consulting highlights that Immuta benefited composite organizations of the study, totalling a sum of $6.08M and an ROI of 175% over three years. The study also offers insights into how the organizations experienced improved efficiencies through Immuta, coupled with the ability to comply with stricter standards of compliance, enabling them to scale data access across organizations to better serve internal innovation efforts and, thereby, meet external customer needs.
Conclusion
The strategic investment by Databricks Ventures is a testament to Immuta’s growth and its innovative, advanced solutions to accelerate secure cloud data management. With the investment, Immuta can integrate even better with Databricks Unity Catalog to take data security to the next level and continue unlocking more value from data.
<< photo by Pixabay >>
