Secuvy Announces New Investments from Dell Technologies Capital and WestWave Capital to Modernize Data Privacy and Security
Secuvy, the cloud-native, contextual data privacy & security platform, has announced the successful completion of its funding round from investors. The funding will be used in accelerating company growth plans, expanding the team, and further developing and enhancing the Secuvy privacy & security platform. The latest funding round was led by Dell Technologies Capital & WestWave Capital, with participation from Z5 Capital.
Currently, businesses operating online must comply with more than 130 privacy regulations globally with new regulations being introduced frequently and existing laws getting updated. Failure to satisfy those regulations can mean millions of dollars in fines and significant damage to brand reputations.
Founded in 2019, Secuvy's cloud-native platform is purpose-built to transform data security and compliance strategies for today's modern enterprise via Self Learning AI workflows. The platform provides visibility into sensitive structured and unstructured data across hundreds of sources at a petabyte-scale. This gives companies an automated view into data privacy compliance and governance so they can more easily mitigate risks.
"Data security and privacy is a significant cause of global concern and most companies struggle without the right tools to support compliance in an already complex environment. We founded Secuvy to give customers a competitive edge when mining qualitative, meaningful insights from data without introducing security risk or failing to meet regulatory requirements," said Vaibhav Mehrotra, CEO and co-founder, Secuvy. "Today's funding is a significant milestone for us and we appreciate our investors' support and belief in our vision."
Using Self Learning AI workflows Secuvy tracks, monitors, and alerts sensitive data in the cloud, on-prem, file shares and legacy systems, Secuvy is a centralized platform fr discovery of sensitive data in mix mode environments. The platform's contextual intelligence graph of individuals provides a "single pane of glass" view, allowing organizations to easily comply with global privacy laws and secure data.
"Data privacy is a top priority for every enterprise company that handles any type of personal data, but current solutions have not been adequate across several dimensions," said Ryan Wexler, investor at Dell Technologies Capital. "The team at Secuvy has taken a forward-looking approach, building a modern, fully cloud-native platform. They can easily scale to meet their customers' growing and ever more complex needs."
"SecuvyAI is a game-changer in the data privacy and security industry, and we are proud to lead this funding round," said Warren Weiss, managing partner, WestWave. "Their innovative technology and approach to data privacy compliance are critical in today's ever-evolving regulatory landscape, and we are excited to support their growth and expansion."
SecuvyAI's innovative approach is currently helping Fortune 1000 companies across healthcare, commerce and finance tackle privacy and compliance challenges in more than 45 countries. To learn more, visit www.secuvy.com.
About Dell Technologies Capital:
DTC invests in determined early-stage founders who push the envelope on technology innovation for the enterprise, connecting them to the capital, expertise, and customers they need to take a company from start to scale. Since its inception in 2012, DTC has backed more than 145 startups including Arista Networks, Cylance, DocuSign, Graphcore, JFrog, MongoDB, Netskope, Nutanix, Nuvia, Redis, Xometry and Zscaler. DTC has offices in Palo Alto (HQ), Boston, and Israel. For more information, visit www.delltechnologiescapital.com
About Westwave Capital:
WestWave Capital is an early-stage Venture Capital firm that invests in Seed and Series A Enterprise companies building deep technology solutions. The company's investments focus on SaaS, Security, Cloud Infrastructure, Blockchain, Analytics, and IoT companies.
Secuvy offers a Contextual Intelligence Platform for Data Privacy, Security & Governance. Our Data Oriented approach automates Data Discovery, Classification & Assessments for Fortune 5000. Unique Contextual-AI Privacy Workflows to automate DSARs, Data Transfers to reduce efforts for Data Governance. Data protection workflows to Monitor, Manage and Protect Sensitive data with scale and visibility. User friendly interface to reduce time, cost and efforts and provide 365 degree view of UnStructured/Structured data for on-prem, cloud or hybrid environments.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230310005374/en/