Data management is big business. Many companies are currently evaluating faster ways to collect, process and analyze data, while at the same time striving to maintain privacy and security and comply with an increasing number of regulations.
Immuta, a next-generation enterprise data management platform provider based in College Park, Maryland, is ready to thrive in this market. Immuta’s founders, including CEO Matthew Carroll, spent more than a decade working as military intelligence officers and contractors, and became known for building real-time analytics and applying modern open-source technologies to intelligence.
“Because of our backgrounds, we’re focused on managing data science in environments where data is very sensitive and highly regulated,” says Carroll. “In these environments, data scientists have different levels of access, making it difficult to collaborate. We’ve built a platform that makes data exchange easier and allows data scientists to use the tools they’ve always been using, while easily inheriting the data governance and data privacy built into our system.” Immuta’s products, BoData and Bakula, also allow data scientists to access, protect and utilize secure data without writing complex code.
Partner Gary Schall, who connected with Immuta through Washington DC-based Partner Stephanie Evans, guided the company through formation and a $1.5 million seed financing in July 2015. The company formed only 10 months before its first round of financing—an impressive accomplishment, says Schall.
“They have a great team—incredibly solid from a technical side,” he explains. “They’re in a space that’s growing like wildfire, and Matt is really tapped into the intelligence industry. This combination of skill and a strong network quickly brought them to a position that a lot of companies take years to reach.”
Currently, Immuta serves eight clients. These include a major transportation manufacturer that uses Immuta’s platform to manage data from autonomous robotics that detect defects in its railway systems; French telecom company that ensures compliance with the EU’s General Data Protection Regulation—a policy that gives individuals the right to request erasure of their personal data—using Immuta’s analytics; and a large pharmaceutical company currently conducting a pilot program to enable multinational data exchanges between its data centers in Germany, France and the United States while ensuring compliance with each country’s policies. The company also has contracts with the US and UK governments.
Immuta’s founders plan to raise $5 million in Series A financing this fall, which will allow the company to expand its field solutions team and fully enter the market in 2017. Carroll also plans to open an office in London next year.
As the company grows, Carroll and his co-founders are eyeing expansion into highly regulated industries that are pushing to improve crowdsourcing and real-time analytics, including industrial manufacturing, healthcare and life sciences, and government. They are also working to make data science more streamlined—for example, Carroll says, the company hopes to empower a senior analyst with no coding skills to use the Immuta platform to filter and collect data using only voice commands.
“That workflow probably saves data scientists a week of work,” says Carroll. “That’s where we’re headed: how do we give people their time back in order to heighten the data science process?”