Privitar has snapped up software platform startup Kormoon as it seeks to boost its data privacy and provisioning offerings.
Financial details about the deal were not disclosed. Kormoon is located in London, according to LinkedIn. Although, based on Companies House data it was incorporated in Cambridge in 2020. Kormoon, which means ‘data’ in Thai, only has three employees listed on LinkedIn. It’s not clear if those jobs are safe as part of the acquisition.
London-headquartered Privitar says that Kormoon’s software platform helps organisations manage data privacy regulations by analysing data usage, assessing risk and automating compliance.
Kormoon calculates, communicates and automates the steps to comply with relevant data rules including data privacy and protection, data localisation, and cross-border transfer requirements.
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These include data compliance rules and requirements from around the world including Europe’s GDPR, Brazil’s LGPD, US’s HIPAA and CCPA, and also new and emerging laws in countries such as the UAE, Saudi Arabia, China, India and beyond.
Founded in 2014 by Jason du Preez and John Taysom, Privitar also has regional headquarters in Boston and locations throughout the US and Europe.
Its customer base includes Global 2000 banking, healthcare, insurance, life sciences, professional services, retail and telecommunications companies like HSBC, Citi, the UK’s National Health Service and AstraZeneca.
To date, Privitar has raised more than $150 million (£127 million) in funding, led by Warburg Pincus, Accel, Partech, IQ Capital, Salesforce Ventures, ABN AMRO Ventures and HSBC.