Privitar secures £31.44 million Series B investment led by Accel

[London, United Kingdom / Boston, USA, Monday 10th June 2019]

Privitar, the data privacy software company, announced it has closed a $40 million Series B funding round led by global venture capital firm Accel, with participation from existing investors Partech, Salesforce Ventures, 24Haymarket and IQ Capital.

The investment strengthens the company’s leadership position in the global data privacy market. Seth Pierrepont, Partner at Accel, will join Privitar’s board of directors.

Data privacy is now top of mind. Following high-profile events like the Equifax breach and the Cambridge Analytica scandal, consumers around the world are increasingly concerned with how enterprises are handling their personal data. Additionally, regulation and consumer rights around data protection are growing, with the introduction of General Data Protection Regulation (GDPR) in Europe and California Consumer Privacy Act (CCPA) in the United States.

Privitar will use the investment to accelerate the development of its privacy engineering products, providing a comprehensive set of capabilities that will enable its customers to publish and share valuable data-driven insights in an efficient, trustworthy, and compliant way. Its customers include some of the world’s best-known brands, such as HSBC, the UK’s National Health Service (NHS Digital) and BT.

Jason du Preez, Privitar’s CEO said: “The world is increasingly aware of the importance of protecting private information and privacy engineering is becoming intrinsic to the way organizations manage and share data.

“This investment will enable us to scale rapidly in response to global demand and help our customers realise the enormous benefits of data-driven decision making, much faster and with less risk.”

Seth Pierrepont from Accel added: “There has been a noticeable increase in enterprises’ appetite for buying data privacy technology in recent years. Through the team’s deep domain expertise and close ties to academia, Privitar has positioned itself as a thought leader in privacy innovation. We’re excited to be joining Privitar on its mission of becoming the standard for enterprise data privacy.”

The company is well positioned as an emerging leader in this category and has seen huge demand for its products as organizations seek the latest technology to analyse their data safely, and with the utmost respect for the individual. Across industries, from banks seeking to improve customer service while protecting personal financial information to healthcare providers seeking to improve clinical outcomes while protecting patient data, it is essential for organizations to harness the power of data, while maintaining the trust they have with their customers.

Ends

Press contact

For further information please contact:

Clementine Boyer Duroselle on the Privitar press team: cboyerduroselle@privitar.com, +44 7932774644

Josephine Salm for Accel: josephine@sepiacommunications.com

About Privitar

Privitar provides data-privacy software to companies and public sector organizations around the world to protect sensitive data and enable the safe and ethical use of data for insight. Privitar was established in 2014 with headquarters in London. The business expanded overseas in 2018 and 2019, opening offices in New York, Boston, Paris, Munich and Singapore. Privitar raised $16m in a Series A funding round in July 2017, with support from existing investors IQ Capital, 24 Haymarket and Illuminate Financial and new funding from Partech, CME Ventures and Salesforce Ventures.

Privitar hosts an annual community event – In:Confidence – with luminary privacy experts and commentators and contributes regularly to the public discourse on privacy matters. You can read and subscribe to the latest news and opinions from Privitar here.

For more information, please visit www.privitar.com

About Accel

Accel is a leading venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of private company growth. Atlassian, Algolia, Avito, Celonis, Cloudera, Crowdstrike, Deliveroo, DJI, Dropbox, Etsy, Facebook, Flipkart, Funding Circle, Kayak, Kry, QlikTech, Rovio, Slack, Spotify, Supercell, UIPath and WorldRemit are among the companies the firm has backed over the past 35+ years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and play to their strengths. Because greatness doesn’t have a stereotype. For more, visit www.accel.comwww.facebook.com/accel or www.twitter.com/accel.

Salesforce Ventures

Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce’s expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 300 enterprise cloud startups in 20 different countries since 2009. For more information, please visit www.salesforce.com/ventures.

Source: https://www.privitar.com/press-releases/series-b-announcement-accel

Beauty booking platform Shedul.com raises £15.26 million Series B investment led by Partech Partners

April 11, 2019

Shedul.com, the world’s fastest growing booking platform for salons and spas, announced today a Series B investment of $20 million, valuing the company at $105 million

The round was led by Partech, an investment firm with hubs in Paris, San Francisco, and Berlin, along with participation from Berlin-based Target Global, Dubai-based BECO Capital, and New York-based FJ Labs. Additionally, the round included personal investment from entrepreneur Niklas Östberg, Founder and CEO of Delivery Hero AG. The fundraise was oversubscribed with additional secondary transactions of $3 million. The Series B round brings the total amount raised by the London-headquartered company to $32 million to date.

Shedul.com is an intuitive, free SaaS-enabled marketplace that salons and spas around the world use to streamline their business operations. In just a few years since launch, the company has captured a vast customer base of merchants in more than 120 countries, mainly in the United States, United Kingdom, Australia and Canada. Recently, the company launched its consumer marketplace Fresha.com, which connects merchants using the free business software to consumers online. The marketplace unlocks revenue potential for merchants by leveraging the power of online bookings and automated marketing through mobile apps and integrations to Instagram, Facebook and Google. 

Today, the company announced that a staggering 8 million appointments are booked on its platform each month, at a value of over $270 million and growing. Growth in active merchants is expanding at an average rate of 20% quarter-on-quarter, making Shedul.com the world’s fastest growing beauty and wellness platform. In just a few years since launch, the platform is on track to process $6 billion worth of appointment bookings by the end of 2019.

The company’s Co-Founders, William Zeqiri, and Nick Miller, shared how their strategy helped outpace conventional competitors to achieve hypergrowth. “Being customer-driven is ingrained into our team’s core,” explained CEO William Zeqiri. “Since day one, we have focused on solving major challenges to make our customers happy. We spend much time talking to our customers and acting on their feedback, enhancing our platform to suit their needs. That’s how we’ve built an award-winning product that can sell itself.”

“It’s not only the quality of our product which gives an advantage, it’s the unbeatable accessibility our platform offers customers” added Nick Miller, the company’s Chief of Product. “The market is highly competitive, crowded with legacy software providers who charge excessive fees to simply access their products. We’ve re-invented the business model by offering our business software totally free of charge, and instead monetise online bookings made through our marketplace. This strategy helps us consolidate the industry, building up a vast global network of merchants for our marketplace. We solved the chicken and egg problem of reaching marketplace liquidity, letting us rapidly scale and monetise the network.” 

Ultimately, this unique approach of powering a global consumer marketplace with a free SaaS platform attracted Partech to lead the Series B investment. “We believe the founders have built an excellent product and demonstrated impressive growth since inception with their unique business model,” explained Philippe Collombel, Co-Managing Partner of Partech. “They have a winning vision to deliver transformational change to the beauty and wellness industry, and we believe their strategy will propel them to become the largest booking platform for the multi-trillion dollar beauty market.”

“We’re ecstatic for Partech to join as our partner in supercharging growth of our platform,” said Zeqiri, commenting on the Series B investment. “The beauty and wellness industry is at a tipping point transitioning to an online model, the new investment secures our forefront position in leading this global shift”.

The company plans to use the investment to accelerate product development and support the ongoing worldwide rollout of its Fresha.com consumer marketplace.