News
Databricks Ventures Invests in Data Security Immuta
May 2023 by Marc Jacob
Immuta announced a new strategic investment from Databricks Ventures, the investment arm of the data and AI company and pioneer of the lakehouse. The investment builds on a longstanding partnership between the two companies and positions Immuta as one of Databricks’ trusted partners of choice for data security and access control. The investment will go towards product innovation to strengthen the integration between both platforms and new go-to-market initiatives to increase enterprise adoption.
This investment comes after a year of immense growth for Immuta during which the company reported a 200% increase in Annual Recurring Revenue (ARR) for its Data Security Platform SaaS offering as it expanded globally into EMEA and APAC. This strong and consistent growth has been fueled by an equally strong track record of funding that includes investments from ServiceNow and NightDragon to support the growing demand for data security from customers around the globe.
Forrester Consulting recently conducted a Total Economic ImpactTM study that found Immuta provided benefits totaling $6.08M and an ROI of 175% over three years for a composite organization, which was based on interviews with six Immuta customers. According to the commissioned Forrester study, “The efficiencies the organizations experienced with Immuta coupled with the ability to meet stricter compliance standards enabled them to scale data access across the organizations to better serve internal innovation efforts and, thereby, better meet external customer needs.”
