The following is a guest post from Andrew Gilman, Chief Revenue Officer at Immuta. Immuta specializes in data management and has recently joined the Dell Technologies Capital portfolio.
It’s a tremendous honor to join the Dell Technologies Capital portfolio, as earlier today we announced Series B funding of $20 million, in which Dell Technologies Capital participated along with our new investors DFJ Growth and Citi Ventures, and existing investors Drive Capital and Greycroft. Dell Technologies Capital’s investment and support will help Immuta accelerate global customer growth and extend product leadership for our data management platform for AI (Artificial Intelligence).
As organizations look to become truly AI-driven, one of the biggest obstacles is automating data science programs while maintaining compliance. According to Gartner, global business value derived from AI is projected to total $1.2 trillion in 2018, and will reach a staggering $3.9 trillion by 2022. Yet, legacy forms of data management for AI are proving counterproductive to the advancement of analytic success and regulatory compliance in the enterprise – it is our objective to remedy this issue.
As analytics and AI advance faster than any other technology category, the gap between regulation and analytics also increases.
The law can’t keep pace with technology. As analytics and AI advance faster than any other technology category, the gap between regulation and analytics also increases. The root of the problem lies in the fact that while organizations rely on complicated applications to access and analyze their data, regulatory compliance and monitoring remains a manual and cumbersome process which slows down progress in data science teams. The process of connecting storage technologies and analytics tools is complex, expensive and time-consuming, and policy enforcement is subjective with ever-evolving regulatory controls. This is especially important with the recent implementation of the EU’s General Data Protection Regulation (GDPR), which places even more emphasis on enforcing purpose-based restrictions on data.
There is a required shift from applications to data science, and that is where Immuta comes in – we help organizations meet the data-driven requirements of impactful and compliant AI initiatives in the modern enterprise.
What differentiates Immuta is that our data management platform inserts the law into algorithms.
The law cannot catch up with technology, and as analytics and AI advance faster than any other technology category, the gap between regulation and analytics also increases. The legacy application-centric approach to close this gap leaves organizations exposed to fines of up to 4 percent of total global revenue under GDPR and significantly impedes data science teams by adding complexity and wasting millions in capital.
Immuta is designed to enable lawyers/compliance professionals to introduce controls into the analytic development process and adapt to the interpretation of law without having to re-write code. We’re working with large organizations to provide them with rapid, personalized access to data across organizational silos to accelerate and simplify every aspect of the analysis workflow—all while preventing them from losing control or insight into how their data is being processed.
Our mission is to provide a solution that enables the most accurate, efficient and regulatory compliant data science programs for global companies across industries. This latest funding validates our existing efforts in achieving this goal, and provides the necessary resources to make our dreams a reality in this AI-driven, highly regulated global business environment.