Series A investment round in leading privacy software company Privitar as it expands market to US and Asia
Leading national law firm Mills & Reeve has advised IQ Capital, 24Haymarket and Illuminate as part of a $16.5 million investment into Privitar Limited.
This was a second round of investment for these investors into Privitar as part of a Series A round led by France’s Partech Ventures with strategic participation from CME Ventures (the investing arm of derivatives marketplace CME) and Salesforce Ventures.
Privitar enables organisations to use, share and gain insights from data safely and securely. The company promotes and facilitates the ethical and safe use of valuable data assets. Using leading privacy engineering techniques, they help companies extract maximum value from data while preserving the customer’s privacy.
The funds will be used to for a variety of objectives including accelerating sales of existing products and expanding into the US and Asia.
Zickie Lim, Partner at Mills & Reeve said: “In this digital era, the integrity and security of data is one of the biggest challenges facing many of our clients. Privitar and its technology is at the forefront of providing solutions to these. We are thrilled to have been involved in this financing which will provide a vital capital injection to support Privitar’s continued growth, scale up and global expansion.”
Ed Stacey, from IQ Capital said: “We were excited to follow on our previous investment in Privitar. The business has an ambitious growth strategy and we hope that this investment will open up a lot of exciting opportunities for them.
Ed continued “Mills & Reeve have a wealth of experience and a strong track record of advising on investments involving multiple parties and complex investor syndicates. We love working with them as they understand the different objectives and concerns of the investors involved and ensure they manage the process smoothly and swiftly to a successful close. ”
Zickie Lim led the team at Mills & Reeve, assisted by Corporate Associate Luke Hurren. Partech was advised by Taylor Wessing and PwC acted for Privitar.