Data privacy startup Privado on Wednesday said it has raised $14 million in a Series A funding round co-led by Sequoia Capital India and Insight Partners.
The funding, which also saw participation from existing investors Together Fund and Emergent Ventures, comes close on the heels of its seed raise of $3.5 million in January. The company aims to use it to grow its technology stack, build out the team and grow its open-source community.
Founded in 2020, Privado is an open-source code scanning solution purpose-built for privacy that identifies data usage, discovers data flows and flags privacy issues like excessive user permissions or data leakages to logs.
“Current tools fall short because they sit outside the development lifecycle where decisions on data collection and sharing are made,” said Vaibhav Antil, co-founder and CEO at Privado.
“With our privacy code scans, engineers and privacy teams get instant visibility into personal data usage by their products and applications, can monitor personal data flows, and find privacy risks that exist in the code from leakage to logs,” Antil added.
The company claims to be mananging over 600,000 code commits for companies like Thrasio and Zego and many more.
Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO, while Sequoia Capital India and Sequoia Capital Southeast Asia have partnered with founders from a wide range of companies, across categories, including BYJUs, CRED, Druva, Five Star Finance, Freshworks, GoTo, Groww, Kopi Kenangan, Mamaearth, Pine Labs, Polygon, Razorpay, Truecaller, Zomato and more.