Immuta Cashes In on Data Privacy Scramble

Immuta Inc., the data management for AI vendor, said it will use a $20 million funding round to establish a European beachhead in London as it sharpens its focus on helping enterprises develop "ethical" AI algorithms that comply with new European privacy rules as well as possible U.S. data privacy regulations. The Series B funding round announced Wednesday (June 20) was led by DFJ Growth and joined by new investors Citi Ventures and Dell Technologies Capital. The startup's customers include banks such as Barclays (NASDAQ: DTYS), insurers and U.S. intelligence agencies. Immuta's data management platform is designed to provide greater control of the data fed into algorithms, speeding deployment as well as increasing visibility into how automation tools are functioning. The goals include "controls around data science" Immuta CEO Matthew Carroll said in an interview, along with helping enterprises get a handle on what he called "analytics ethics."