For sizable organizations, managing and distributing data presents significant difficulties, and achieving this securely and in accordance with regulations is a challenge for numerous businesses. eXate, a data software company headquartered in London, is addressing this issue and has recently secured £2.3 million in seed funding. This funding round was spearheaded by Outward VC, with further investment from ING Ventures and Triple Point Ventures.

eXate operates in a competitive landscape alongside companies specializing in particular areas of data privacy, such as Hazy, Privitar, and Very Good Security. However, eXate differentiates itself by consolidating various privacy approaches into a single, comprehensive solution, offering unified governance and oversight.

The company was established by Peter Lancos and Sonal Rattan, who previously held leadership positions in digital business at HSBC. ING, the new investor, is also among eXate’s current clientele.

According to Peter Lancos, CEO of eXate, “Companies handling substantial amounts of data encounter numerous hurdles when it comes to data sharing. We find that a primary impediment is a fragmented approach. The reliance on costly, individual solutions, combined with the complexities of tracking diverse national regulations, increases both the time and financial resources required for data projects.”

This new capital will allow eXate to respond to the growing need for DataSecOps by expanding its workforce, accelerating the advancement of its platform, and extending its reach into new markets and industries.

Andi Kazeroonian, an investor at Outward VC, stated regarding the investment: “Protecting confidential data is a vital concern for businesses aiming to leverage data to benefit their stakeholders. eXate’s distinctive platform equips companies with the necessary resources to guarantee data privacy and security from the outset.”