Data privacy and AI governance platform provider Ethyca on Thursday announced raising $10 million in a funding round that brings the total raised by the company to over $37 million.
Led by Aspenwood Ventures and AVP, the investment round was completed shortly after the company added Axios, Mozilla, Ramp, and Remitly to its customer list.
Founded in 2018, the New York-based company has developed an enterprise platform that provides data visibility and governance and which can integrate with popular SaaS solutions.
The company’s Fides open source platform enables organizations to scan their infrastructure for personally identifiable information (PII) and generate GDPR-compliant data maps, for privacy management.
Ethyca’s platform helps organizations inventory data through automated system mapping, to remain compliant with consent management across their entire data workflows. By providing real-time visibility into data flows, Ethyca also ensures that AI models remain compliant.
Additionally, it offers streamlined, automated privacy requests and easy-to-configure integrations for all systems and vendors across an organization, reducing costs, saving time, and minimizing risks.
The new investment will help Ethyca improve key product capabilities and expand its team to support the increasing demand for its enterprise-grade platform.
“At Ethyca, we’re tackling the most critical challenges in data governance—ethics and trust when it comes to data privacy, and all the compliance needs associated with it,” Ethyca CEO Cillian Kieran said.
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