Today, we welcomed Immuta to the March Capital portfolio, as part of their $90M Series D. Immuta is the universal platform for cloud data access, and a leader in the burgeoning field of DataOps. The power of Immuta is its ability to unlock the value of data, without compromising on security or privacy. That is why Immuta recorded 115% YoY bookings growth and has become an essential component of the data stack for organizations such as Atlassian, Credit Suisse, Aon, Daimler, and the US Army.
We first met Immuta soon after its founding in 2015. CEO Matt Carroll had played an important role in the intelligence operations in Iraq and came highly referenced by the US army generals who commanded our forces for his innovative and important contributions. Matt joined us annually for The Montgomery Summit, as we tracked his progress and tried to be helpful along the way. We are excited that Immuta’s evolution and our investment focus have now converged!
Data is a key focus area for us at March Capital, with investments such as ThoughtSpot in the analytics space, as well as companies such as CrowdStrike and Forter that have strong network data effects enabled by machine learning. We are excited about DataOps solutions that are indispensable across verticals, have a platform architecture, and thus have the potential to become multi-billion dollar companies.
When we looked at leading indicators, we saw that Immuta already has widespread adoption, overwhelmingly positive customer ratings, and an A+ team with the passion and expertise necessary to be successful. In our mind, Immuta does three things exceptionally well:
- Universal Architecture – the Immuta solution works on any data source, in any environment, across any type of infrastructure. It is the single control plane around data, regardless if a customer uses Snowflake, Databricks, AWS, Azure, or other platforms.
- Ease of Use – Immuta allows quick time to business value, while operating seamlessly behind the scenes after implementation. For one, data does not have to move. In addition, Immuta can dynamically redact or anonymize data, enabling data scientists to build AI models without privacy concerns. Finally, Immuta automatically manages compliance with regulations like HIPAA and GDPR.
- Team and Community – The founding team spent over a decade working in the U.S. Intelligence Community, tackling some of the most complex and sensitive data governance challenges. Supporting them is a team with intellectual curiosity and operational excellence, which was obvious to us whether speaking to an employee, customer, or partner.
The winners in this space will be those companies which can harness data easily and effectively, without compromising on security, compliance, or performance. When we think about the mission of a Chief Data Officer (CDO), it is to capture business value from data – which is incredibly onerous to do today, especially with the deluge of data coming online and an increasing number of consumers of that data.
The market is moving towards an end state of data democratization, with self-service analytics and citizen data scientists, along with robust sharing of data both inside and outside an organization. Any solutions adopted by data-driven enterprises must be real-time, secure, and operate at scale.
To get there, we need multi-cloud architectures, automated discovery, attention to quality and monitoring, and we need rock-solid security and compliance. Immuta is well positioned in this landscape, as the single layer of control for data access, and thus, a key hub in the data supply chain.
We’re proud to have Immuta join the March Capital family and look forward to supporting the company’s continued growth!