<article>Data security firm Immuta said on Wednesday it was valued at $1 billion after a $100 million late-stage funding round led by venture capital firm NightDragon.</article>

Data security firm Immuta said on Wednesday it was valued at $1 billion after a $100 million late-stage funding round led by venture capital firm NightDragon.
Cyber security companies, such as Immuta, Axonius and Securonix, have attracted investor interest recently due to strong demand for their services as businesses adopt a hybrid work model globally due to the COVID-19 pandemic.
Immuta, founded in 2015, offers a platform to help businesses automate data access control, security, privacy and compliance requirements.
&#8220;Companies are grappling with rising data volumes that are becoming more distributed, making it difficult for them to control access, ensure compliance and safely share data,&#8221; NightDragon founder Dave DeWalt said, adding that Immuta was minimizing risks of data leaks.
The company&#8217;s customers include the U.S. Army, luxury automaker Mercedes-Benz Group and financial services firm S&amp;P Global Inc.
Immuta said it would use the new funds to accelerate product development and grow its marketing team to expand its footprint internationally.
&#8220;We are also exploring strategic M&amp;A opportunities as we expect more industry consolidation,&#8221; said Matthew Carroll, co-founder and chief executive officer of Immuta.
Several startups have turned to venture capital funding in recent months as public equity markets are reeling under pressure from the Ukraine conflict and aggressive moves from central banks to tame stubbornly high inflation.
In the first quarter this year, nearly 4,822 venture capital deals were completed in the United States, marking the highest number of closed transactions in any quarter on record, according to data from Pitchbook.
Other investors in Immuta&#8216;s Series E round include Snowflake Ventures, Dell Technologies, DFJ Growth, Intel Corporation and Wipro Ltd.
It has raised $267 million in total capital so far.
Reuters

Other investors in Immuta's Series E round include Snowflake Ventures, Dell Technologies, DFJ Growth, Intel Corporation and Wipro Ltd.

US data security firm Immuta valued at $1b after latest funding led by NightDragon

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US data security firm Immuta valued at $1b after latest funding led by NightDragon

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