Data privacy automation startup Integris Software has raised $10 million in Series A financing.
The round, led by Aspect Ventures and joined by Workday Ventures, Madrona Venture Group, and Amplify Partners, brings total disclosed investment in the company to $13 million since it was founded in 2016.
Traditional security tools simply aren’t designed to identify and monitor data for the purposes of privacy compliance.
– Mark Kraynak, partner, Aspect Ventures
Integris Software provides data visualisation and management tools aimed at helping companies achieve and maintain regulatory compliance, currently with particularly focus on GDPR – no surprise, given the amount of attention that particular piece of regulation has received, and the panic it caused back in April and May.
“Global CTOs are realizing that complying with privacy law is essentially a data problem and that without an automated discovery mechanism for sensitive information, they’re flying blind on what data is important to secure and why,” said Kristina Bergman, CEO of Integris Software. “It is important that companies are able to leverage their most valuable data while proving they are acting with integrity, but they haven’t had the technology to do so until now.”
One of the major issues with preparation for GDPR was that guidance and solutions couldn’t be ‘one size fits all’ – SMEs and larger enterprises found they faced a very different set of challenges when it came to discovering and managing their data. Integris combines advanced machine learning techniques with hyperscalable architecture to help its tools work for companies of all types and sizes.
“Integris is a unique vendor that, through automation, can discover data at rest or in motion, structured or unstructured, on premise or in the cloud,” said Mark Peek, managing director and co-head of Workday Ventures. “Companies need to be able to produce evidence that shows what sensitive information has been deleted or rectified.”
As part of the deal, Aspect Ventures partner Mark Kraynak will be joining Integris Software’s board of directors.
“We invested in Integris because they were the only company that had the technology to operate at the scale and level of automation required to support a successful compliance strategy,” said Kraynak. “Traditional security tools simply aren’t designed to identify and monitor data for the purposes of privacy compliance. Survey-based privacy solutions are helpful for documenting privacy policy, but they fall short when it comes to actually implementing those policies in a manner that’s defensible.”
According to a press release, Integris Software will be using the funding to continue product development and to meet ‘accelerating demand’ for comprehensive data privacy solutions.
