Total amount raised
$37.5 Millions
Latest funding date
12/01/2024
Location
Ethyca has successfully raised $10 million in its Series A funding round, attracting a total of 23 investors, including AVP and Aspenwood Ventures. The platform specializes in data privacy solutions, offering tools for data mapping, consent management, privacy requests, and AI model governance.
Keep reading to explore the intricacies of Ethyca's fundraising journey and the investors backing this innovative platform.
What Is Ethyca?
Founded in 2018, Ethyca is a New York-based company specializing in data privacy and compliance solutions. The company was established by Cillian Kieran and Miguel Burger-Calderon.
Ethyca operates within the artificial intelligence, compliance, developer tools, and open-source industries. With an employee count ranging from 11 to 50, the company focuses on providing engineered solutions that help businesses automate data privacy tasks, ensuring compliance with regulations like GDPR and CCPA.
How Much Funding Has Ethyca Raised?
- Amount Raised: $2.3M
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop initial privacy tools.
- Amount Raised: $4.2M
- Date: July 2019
- Lead Investors: IA Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the development of privacy engineering tools and scale the team.
- Amount Raised: $13.5M
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and commercialize proprietary privacy tools and support compliance with data privacy regulations.
- Amount Raised: $7.5M
- Date: November 2021
- Lead Investors: IA Ventures, Lee Fixel, TABLE Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To deploy open-source technology and integrate privacy into the software development lifecycle.
- Amount Raised: $10M
- Date: December 2024
- Lead Investors: Aspenwood Ventures, AXA Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI model governance and expand data privacy solutions.
Total Amount Raised: $37.5M. Current Valuation: Not publicly disclosed.
Key Investors
- IA Ventures
- Details: IA Ventures is a venture capital firm that focuses on investing in early-stage companies. They are known for their support of startups that leverage data to create innovative solutions.
- Investment Focus Areas: Data, Fintech, Enterprise Software
- Notable Investments: The Trade Desk, Datadog, TransferWise
- Lee Fixel
- Details: Lee Fixel is a prominent venture capitalist and the founder of Addition, an investment firm. He has a history of backing successful technology companies.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: Peloton, Spotify, Flipkart
- TABLE Holdings
- Details: TABLE Holdings is an investment firm associated with Bill Ackman. The firm focuses on long-term investments in innovative companies.
- Investment Focus Areas: Technology, Consumer Goods, Financial Services
- Notable Investments: Chipotle, Netflix, Airbnb
- Aspenwood Ventures
- Details: Aspenwood Ventures is a venture capital firm that invests in early-stage technology companies. They aim to support startups with high growth potential.
- Investment Focus Areas: Technology, AI, SaaS
- Notable Investments: Not publicly disclosed
- AXA Venture Partners
- Details: AXA Venture Partners is a global venture capital firm that invests in technology companies. They provide both financial and strategic support to their portfolio companies.
- Investment Focus Areas: Fintech, Insurtech, Enterprise Software
- Notable Investments: Not publicly disclosed
What's Next for Ethyca?
As Ethyca continues to innovate, the company is poised to capitalize on the growing demand for data privacy solutions. With the development of open-source tools like Fides, Ethyca aims to integrate privacy directly into the software development lifecycle, a move that could attract more Fortune 500 companies. This opportunity is vast, given the increasing importance of data privacy and the shift towards "privacy by design" in the tech industry.
Future fundraising seems promising as Ethyca's tools gain traction. The company has already raised significant capital, and its ongoing partnerships with major tech firms suggest that additional investment rounds could be on the horizon. However, challenges remain, such as convincing developers to adopt new privacy standards and competing with established privacy solutions. Despite these hurdles, Ethyca's focus on open-source technology and developer-first approach positions it well for future growth and potential acquisitions.
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