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        Drata, a security and compliance automation platform, has raised USD 200 million in a Series C funding round co-led by ICONIQ Growth and GGV Capital with participation from investors such as Salesforce Ventures, Cowboy Ventures, S Ventures, Silicon Valley CISO Investments (SVCI), and several angel investors. The round doubles the company&rsquo;s valuation to USD 2 billion. Drata&rsquo;s total funding now stands at USD 328.2 million.&nbsp;
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        The funds will be used to accelerate its R&amp;D to further build its enterprise-grade product and invest in new product features for startups and auditors.
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        Founded in 2020, Drata provides continuous automated control monitoring and evidence collection to help companies comply with over 14 regulatory frameworks such as the GDPR and SOC2. Drata counts over 2,000 customers including Fivetran, Notion, and Lemonade.
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  <p>
    <a href="https://www.prnewswire.com/news-releases/dratas-valuation-rises-to-2-billion-with-200-million-series-c-funding-301696704.html">
      Company press release
    </a>
  </p>
  <p>
    <a href="https://techcrunch.com/2022/12/07/security-compliance-and-automation-platform-drata-nabs-200m-at-2b-valuation/?tpcc=tcplustwitter">
      TechCrunch
    </a>
  </p>
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Digital Privacy Tools

Drata raises USD 200 million in Series C funding at a USD 2 billion valuation

INCUMBENTS_PRESENT

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 <p>Data privacy and compliance provider, Kiteworks, has acquired advanced data collection company 123FormBuilder. The details of the transaction have not been disclosed. This acquisition is a strategic move by Kiteworks to fortify its position in safeguarding sensitive content across digital communication platforms.</p>
 <p>Kiteworks is intending to incorporate 123FormBuilder's capabilities into its Private Content Network. This integration will provide customers with a comprehensive platform that centralizes the tracking, controlling, and security of sensitive information exchanges.</p>
 <p>Established in 2008 in Romania, 123FormBuilder has been delivering a platform that enables the creation of secure online forms such as registration forms, order forms, surveys, and others. The company's platform offers a no-coding, drag-and-drop mechanism for form creation. It provides various features including conditional logic, electronic signature functionalities, multi-page forms, file uploads, and compatibility with more than 45 tools for automated workflows.</p>
 
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Kiteworks acquires 123FormBuilder for undisclosed sum to enhance secure data collection

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 <p>US facial recognition company Clearview AI has been fined EUR 30.5 million (approx. USD 33.7 million) by the Netherlands' data protection authority, Autoriteit Persoonsgegevens (AP). The fine has been imposed for several violations of the General Data Protection Regulation (GDPR) by the company, including unlawful collection of biometric data and ineffectual response to data access requests. AP's investigation confirms the presence of images of Dutch citizens in Clearview's database.</p>
 <p>In addition to the primary fine, the Dutch authority has prescribed an extra penalty of up to EUR 5.1 million if Clearview continues to disregard GDPR regulations even after the investigation. This could possibly increase the total amount of the fine to EUR 35.6 million (approx. USD 39.3 million) if the company does not correct its violations.</p>
 <p>Clearview AI argues that it doesn't fall under the purview of the GDPR as it neither operates nor has customers in the EU. However, AP stipulates that GDPR has extraterritorial reach.&nbsp;</p>
 <p>In recent years, Clearview AI has accrued GDPR fines amounting to around EUR 100 million (roughly USD 110.4 million) from regional regulatory bodies, but reportedly, none of these have been paid yet. Clearview AI has consistently been unresponsive and has refused to appoint a legal representative in the EU. In response to this, AP is considering additional measures to hold the company accountable, such as making its directors personally liable.</p>
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Dutch regulator fines Clearview AI for GDPR violations

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 <p>The Dutch Data Protection Authority (DPA) has given Uber a fine of 290 million Euros (USD 324 million) due to a violation of EU data protection rules. Uber moved European taxi drivers' personal data to the US without enough safeguards, according to the DPA.</p>
 <p>This activity of data transfers by Uber was seen as a significant violation of the General Data Protection Regulation (GDPR), especially since the EU-US Privacy Shield was invalidated by the EU in 2020.</p>
 
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Dutch regulator fines Uber for GDPR violations

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 <p>Kiteworks, a secure content communications company, has secured a growth funding of USD 456 million from Insight Partners and Sixth Street Growth. This investment has pushed the company's valuation to more than USD 1 billion.</p>
 <p>The new capital will be directed towards R&amp;D, business development, hiring, and accelerating its M&amp;A strategy. As part of its growth strategy, Kiteworks plans to make acquisitions.</p>
 <p>Kiteworks claims to serve over 100 million end users, 3,650 global enterprises, and government agencies. It declares to be the only security platform approved by FedRAMP to provide unified support for file sharing, managed file transfer, and email data communications adhering to global compliance requirements.</p>
 
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Kiteworks raises USD 456 million in growth funding to secure sensitive data

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 <p>Meta, the social media titan, has consented to settle a lawsuit for USD 1.4 billion. This action was brought forth by the Texas Attorney General's office, operating under the provisions of the 2009 Capture or Use of Biometric Identifier Act (CUBI).</p>
 <p>The lawsuit, amounting to USD 1.4 billion in 2022, is said to be the largest ever prosecuted under a specific state privacy law. It revolves around the capturing of facial recognition data from numerous photos and videos posted by users on Facebook, a social media platform owned by Meta.</p>
 
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Meta to settle USD 1.4 billion for facial recognition violations

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<p>Pyte, a data security startup, has procured USD 5 million in funding from Myriad Venture Partners, Innovation Endeavours, Liberty Mutual Strategic Ventures, and Pillar VC, bringing its total funding to USD 12 million.</p>
<p>The funds will be utilized to commercialize Pyte's solutions across multiple industries, focusing mainly on ones with strict regulations, such as healthcare and financial services.</p>
<p>Pyte has designed a secure computation platform utilizing secure multi-party computation (SMPC) technology. This allows businesses to use and collaborate on confidential data without compromising its security. Crucially, SMPC enables AI and ML operations to occur on data without needing to move or decrypt it.</p>

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Pyte raises USD 5 million to commercialize product

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 <p>Governor Tim Walz has enacted the Minnesota Consumer Data Privacy Act, making Minnesota the 19th state to implement comprehensive privacy legislation. The law will take effect on July 31, 2025.</p>
 <p>The law will apply to businesses managing personal information of either 100,000 consumers or 25,000 consumers if 25% of their gross revenue comes from the sale of personal data. Exclusions include data covered by HIPAA and the GLBA and data collected by certain organizations.</p>
 <p>The new law copies existing state privacy laws regarding consumer rights and requirements for data controllers. It does not provide a private right of action, and enforcement will be entirely by the Minnesota Attorney General’s office.</p>
 
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Minnesota becomes 19th state to enact privacy legislation

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 <p>DataGuard, a provider of compliance and data privacy SaaS, has acquired Stockholm-based privacy management solutions firm DPOrganizer.</p>
 <p>DPOrganizer provides services such as data breach management, data subject request handling, data protection impact assessments, advanced data mapping, data analytics, and data flow visualization. It serves customers across 20 countries.</p>
 <p>The integration of DPOrganizer will enable DataGuard to enhance its services and increase its presence mainly in the Nordics and the UK.</p>
 
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DataGuard acquires DPOrganizer to expand in Europe

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 <p>Zendata, a data privacy software startup, has launched with USD 2 million in seed funding from PayPal Ventures, First-hand Alliance, Geek Ventures, and Altari Ventures.</p>
 <p>The company will use the fresh seed funding to expand its product’s features and drive customer acquisition.</p>
 <p>Zendata also reports it was accepted into an accelerator program run by Race Capital, with access to USD 250,000 in funding, over USD 400,000 in Google Cloud Credits, and marketing support.</p>
 <p>Zendata’s product suite bundles several cloud services designed to help organizations comply with privacy regulations such as the GDPR. These include ensuring that an organization’s website manages visitor data responsibly and that the application code doesn’t reveal sensitive information.</p>
 
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Zendata launches with USD 2 million for feature expansion

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 <p>Transcend, a data privacy platform, has raised USD 40 million in a Series B funding round. The round was led by Stepstone Group and also saw participation from HighlandX and existing investors like Accel and Index Ventures. To date, Transcend's total external funding stands at approximately USD 90 million.</p>
 <p>The newly acquired funds will be targeted towards enhancing Transcend's platform.</p>
 <p>Transcend has made tremendous growth after its last funding. It expanded from a privacy kill switch to now offering a suite of 12 distinct products. These products aid enterprises in understanding and managing personal data, automating privacy-related tasks, assessing risks, and managing AI systems.</p>
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All Updates

Drata raises USD 200 million in Series C funding at a USD 2 billion valuation

Kiteworks acquires 123FormBuilder for undisclosed sum to enhance secure data collection

Dutch regulator fines Clearview AI for GDPR violations

Dutch regulator fines Uber for GDPR violations

Kiteworks raises USD 456 million in growth funding to secure sensitive data

Meta to settle USD 1.4 billion for facial recognition violations

Pyte raises USD 5 million to commercialize product

Minnesota becomes 19th state to enact privacy legislation

DataGuard acquires DPOrganizer to expand in Europe

Zendata launches with USD 2 million for feature expansion

Transcend raises USD 40 million to enhance platform

Digital Privacy Tools

Drata raises USD 200 million in Series C funding at a USD 2 billion valuation

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