Indian data privacy firm secures $14m from Sequoia, others

Privado, an India-based data privacy startup, has raised US$14 million in a series A round co-led by Sequoia Capital India and Insight Partners. Existing investors Together Fund and Emergent Ventures also participated.

Privado founding team / Photo credit: Privado

Founded in 2020 by Vaibhav Antil, Prashant Mahajan, and Jasdeep Cheema, Privado’s code scanning tool enables engineers and privacy teams to identify data usage, track data flow, and flag privacy issues such as excessive user permissions or data leakage. The offering connects with source code management platforms like GitHub to allow for instant data visibility.

The India-based firm said it currently manages over 600,000 code commits for companies such as Thrasio and Zego. Privado added that its solution can save developers and privacy professionals months of work compared to current alternatives.

The company will use the new funds to improve its tech stack, hire more people, and grow its open source community. The firm also plans to expand its newly launched offering that allows Android developers to generate data safety reports. The product has so far attracted engineers from companies like Automattic and Blinkist to create over 2,000 reports.

The latest investment comes after Privado closed a US$3.5 million seed round in January.

According to Fortune Business Insights, the global data privacy software market was worth US$1.7 billion in 2021 and is expected to reach US$25.9 billion in value by 2029 at a compound annual growth rate of 40.8%.

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