SECURITI.ai Raises $50M Series B from General Catalyst and Mayfield to Scale its Automated Privacy Operations Platform
The company experiences rapid growth in customer adoption, global presence, and product capabilities -- launches Freemium and Self-Service offerings
SAN JOSE, Calif. -- SECURITI.ai, the leader in PrivacyOps and data security automation, today announces $50 million in Series B financing led by General Catalyst with participation from Mayfield. The latest round comes months after the company’s Series A and brings total fundraise to $81 million. The company is also announcing growth milestones, international expansion and senior management additions.
Since its launch, SECURITI.ai has garnered momentum and growth in key areas:
- Customer Adoption -- The company’s PRIVACI.ai platform has seen rapid adoption and has processed over 100 million identities
- Global Presence -- The company has expanded into new regions, including South America, Canada and APAC
- Team Expansion -- New executives were added, including VP Sales, VP Marketing and VP APAC, in addition to overall team growth
- Product Additions -- New Freemium and Self-Serve offerings have been added, along with additional product enhancements
“We have closely watched the SECURITI.ai team execute on their mission and it’s convinced us to double down on our investment in the company. The SECURITI.ai team has leveraged its deep enterprise cloud security, data protection and governance expertise to build a unique PrivacyOps platform that customers are excited about,” said Dr. Steve Herrod, Managing Director at General Catalyst. “Privacy of personal information is of growing concern across the globe, and SECURITI.ai is very well-positioned to help companies properly provide this privacy and comply with increasing regulations.”
Solving New Privacy Challenges
SECURITI.ai enables enterprises to be responsible custodians of their consumer’s data, comply with global privacy regulations and bolster their brands. It is the only platform that addresses all critical challenges organizations face with modern privacy compliance:
- Automatically and accurately find all the personal data within an organization across on-prem and cloud data systems and mapping that data to its owner with AI-driven bots
- Drastically reduce the time and cost to fulfill individuals’ data requests and other compliance requirements by leveraging robotic automation
- Automating consent revocation across systems and vendor assessments and facilitating breach notifications
To learn more about how PRIVACI.ai works, you can watch the video here.
“We chose SECURITI.ai for our privacy operations because it was the only platform that offered a scalable one-stop solution. Their PrivacyOps framework provides real-time data inventory, people-data-graph building and robotic automation,” said Marty Collins, Chief Legal & Privacy Officer at QuinStreet. “This enables us to not only meet current CCPA obligations now but also plan to meet growing consumer, regulatory and partner expectations around data privacy.”
About SECURITI.ai
SECURITI.ai is the leader in AI-Powered PrivacyOps, that helps automate all major functions needed for privacy compliance in one place. It enables enterprises to give rights to people on their data, be responsible custodians of people’s data, comply with global privacy regulations like CCPA and bolster their brands.
The company was formed with an all-star team of executives and technologists from Symantec, Elastica, Bluecoat and Cisco. President and CEO, Rehan Jalil, was previously the CEO of Elastica and SVP and GM of Cloud Security at Symantec. Before Symantec, Jalil merged his last company Elastica for $280 million with Bluecoat, and the combined company was subsequently acquired by Symantec for $4.7 billion. The company is headquartered in San Jose, CA. To learn more, please visit SECURITI.ai.
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Singapore’s Personal Data Protection Act (PDPA) comprises various provisions governing the collection, disclosure, use, and care of personal data. It recognizes the rights of individuals to have more control over their personal data and the needs of organizations to collect, use, or disclose personal data for legitimate and reasonable purposes.
Key Features
On April 13, 2000, the Personal Information Protection and Electronic Documents Act (PIPEDA) received Royal Assent. It came into force in stages, beginning on January 1, 2001. PIPEDA came fully into effect on January 1, 2004. The legislation applies to organizations that collect, use or disclose personal information in the course of commercial activities.
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After the invalidation of Privacy Shield, many companies are relying on the SCCs in order to continue transferring data of EU citizens to companies based in countries who are not deemed adequate for data transfer.
After the CJEU judgement, it is clear that these companies have to conduct Risk Assessments with the data recipients in these countries in order to ensure they have enough controls to mitigate any potential data or regulatory risk.
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On 2nd March, 2019, the Department of Health—Abu Dhabi (DoH), launched the Abu Dhabi Healthcare Information and Cyber Security (ADHICS) Standard. This is the first standard that aims to provide healthcare professionals and entities a comprehensive guide to the regulation of healthcare data in Abu Dhabi. This law ensures the highest levels of privacy and security of patients’ data, in line with international standards, is maintained.
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On January 31, 2020, the government of Saudi Arabia issued the Executive Regulations to the Saudi E-Commerce Law 2019 (“ECL”) that was in effect since October 2019. The Executive Regulations together with the ECL (“Law”) aim to protect consumers’ personal data by requiring organizations to take appropriate technical and administrative measures.
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Turkey was one of the first countries to start the trend of legislating data protection. Turkey published “Law on the Protection of Personal Data No. 6698 (LPPD) covering personal data protection on April 07, 2016.” The LPPD is based on the European Union Data Protection Directive 95/46/EC and has several similarities with the GDPR. It aims to give data subjects’ control over their personal data and outlines obligations that organizations and individuals dealing with personal data must comply with. The LPPD has also provided comprehensive guidelines for the transfer of personal data to the third parties.
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In December 2019, India, following several other countries' footsteps on the privacy laws' developments, introduced the Personal Data Protection Bill (PDPB) to regulate the processing, collection, and storage of personal data.
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On 13 October 2020, the National People's Congress of the Republic of China submitted the long awaited draft of the Personal Information Protection Law (Draft PIPL) to the Standing Committee meeting for preliminary review. This draft was officially released for the public consultation on 21 October, 2020. The consultation period will last until 19 November 2020.
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The Irish Data Protection Act, 2018 (Irish DPA) implements the General Data Protection Regulation (GDPR) and transposes the European Union Law Enforcement Directive in Ireland. Since it incorporates most of the provisions from the GDPR and the Law Enforcement Directive with limited additions and deletions as per the national law, it is considered to be the principal data protection legislation in Ireland.
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The Personal Data (Privacy) Ordinance (Cap. 486) as amended in 2012 (the “PDPO) is the primary legislation in Hong Kong which was enacted to protect the privacy of individuals’ personal data, and regulate the collection, holding, processing, disclosure, or use of personal data by the organizations.. The Data Protection Principles ( the “DPPs or DPP ''), which are contained in Schedule 1 to the PDPO, outline how entities should collect, handle, disclose, and use personal data.
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In 2012, the Philippines passed the comprehensive privacy law, Data Privacy Act 2012 Republic Act. No, 10173 (the "DPA"). The DPA recognizes the rights of individuals to have more control over their personal data while ensuring a free flow of information to promote innovation and growth.
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The United Arab Emirates (UAE) has a Federal Telecommunication Law ( Federal Law) which requires that a company must hold a license in order to provide public communications services and operate public telecommunication networks. Under this Federal Law, a Telecommunication Regulatory Authority (TRA) was established which regulates the telecommunication sector in the UAE.
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