Market Insights

[Top Secret – Classified]: Friday Dealbook for 6/26/2020

In today’s digital age, the importance of data privacy is becoming increasingly top of mind for consumers, enterprises, and regulators. This week’s deals reflect this sentiment: Immuta raised $40 million for its data management platform, aggregating various data sources into a cohesive system; Jumbo, whose platform enables users to manage privacy across digital apps and services, brought in $8 million; and ID.me, a digital wallet meant to better facilitate trust, transparency, and efficiency, raised $8.33 million.

In the same vein, we recently explored some privacy faux pas in our Advisor blog post on privacy – what do you think should be done to prevent such occurrences in the future?

The Top Deals Covered by OWI this Week

Immuta \ immuta.com \ Founded in 2014

Developer of a data management platform intended to securely connect data to Data Scientists and Business Analysts. The company’s platform provides a single, simplified interface to manage and monitor data and connects data from any storage system into a simplified virtual catalog, enabling data scientists to benefit from rapid and personalized data access.

The company raised $40 million of Series C venture funding in a deal led by Intel Capital on June 23, 2020. Dell Technologies Capital, Citi Ventures, Ten Eleven Ventures, Drive Capital, Greycroft and DFJ Growth also participated in the round. The funds will be used to accelerate platform innovation, enhance and expand strategic partnerships, and bring to market new, industry-specific solutions to automate compliance with HIPAA, CCPA, COPPA, and other regulations.

Jumbo \ jumboprivacy.com \ Founded in 2018

Developer of an application software intended to provide privacy assistance. The company’s universal interface helps to manage all your privacy across all social media apps and internet services in one place, enabling users to protect their personal information.

The company raised $8 million of Series A venture funding in a deal led by Balderton Capital on June 24, 2020. Kima Ventures, NextView Ventures, SV Angel, Thrive Capital, Roger McNamee, and 20 other business angels also participated in the round. The funds will be used to support the team as they continue building tools to protect its users’ privacy and work towards being a profitable, independent company.

ID.me \ id.me \ Founded in 2010

Provider of a digital ID wallet designed to make online transactions more efficient, trusted, and transparent. The company’s wallet and identity gateway platform, streamlines authentication, identity proofing and federation of external identity and attribute providers through a single API, enabling military, students, first responders, teachers, and government employees to easily prove their identity online via a single login and avail discounts on various networks.

The company raised $8.33 million of Series B2 venture funding from undisclosed investors on June 24, 2020.

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Investor Highlight

Ten Eleven Ventures / 1011vc.com / Founded in 2014

Founded in 2014, Ten Eleven Ventures is a venture capital firm based in Boston, Massachusetts. The firm seeks to invest in companies operating in the cybersecurity sector.

Active Portfolio – 16
Investments (TTM) – 9
Med. Round Amount – $28.26M
Med. Valuation – $210.88M
# of Exits – 6

Deal History

In the past year, Ten Eleven Ventures has invested in the following 6 identity companies:

Axis Security

Buguroo

CyberGRX

Immuta

Kasada

Ordr

*Source: PitchBook Data Inc. with proprietary keyword searches set by OWI Analysts