Securiti.ai Announces $50 Million in Series B Funding

Securiti.ai Announces $50 Million in Series B Funding

San Jose data and security startup Securiti.ai has announced $50 million in Series B funding led by General Catalyst and with participation from Mayfield.

Launched in 2019, Securiti.ai reports that it has already raised $81 million in funding. CEO and founder Rehan Jalil has stated that the goal of the startup is to provide an operations platform for companies to use for handling customer data, an idea that he has coined as ‘PrivacyOps’.

With a growing body of data and privacy regulations like the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), there is also an increase in customer requests to remove or redact some of their data.

This can be a difficult problem to solve when the data could be spread across multiple applications and is often shared with third parties and partners.

Jalil says his company aims to help companies give their customers more control over their data as the new laws and regulations increasingly require them to do.

“In the end it’s all about giving individuals the rights on the data: the right to privacy, the right to deletion, the right to redaction, the right to stop the processing. That’s the charter and the mission of the company,” he told TechCrunch.

Securiti.ai’s platform works by having their clients define their data sources, after which a bot gathers all customer data across the sources they have listed. The bot then creates a central record with the data it has found, which is then reviewed by human agents who make any adjustments needed as to how to handle the data requests by customers.

The platform has security templates to adhere to different kinds of privacy regulations — like GDPR and CCPA — and the data found by the bot must meet those requirements.

Though it was only launched in 2019, Securiti.ai already has grown to 185 employees, with more expected to be added in the next year thanks to this latest round of funding.

Source: TechCrunch