Ethyca scales its mission to solve the most technical challenges in data privacy for modern enterprises.

December 05, 2024 08:00 AM Eastern Standard Time

NEW YORK–(BUSINESS WIRE)–Ethyca, the leader in data privacy engineering, today announced a $10 million funding round led by Aspenwood Ventures and AVP. The investment will drive Ethyca’s continued growth and support increasing demand for its enterprise-grade data privacy and AI governance platform. Ethyca has recently added industry leaders Mozilla, Axios, Remitly, and Ramp to its customer list, further solidifying its position as the leading provider for engineered data governance in the enterprise segment.

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“At Ethyca, we’re tackling the most critical challenges in data governance—ethics and trust when it comes to data privacy, and all the compliance needs associated with it,” said Cillian Kieran, CEO of Ethyca. “This new funding combined with our rapid enterprise adoption validates our thesis that compliance and data are rapidly converging for the world’s biggest companies. Their need for a comprehensive data privacy solution is greater than ever and we are ready to solve the toughest challenges out there.”

The platform provides value by improving data visibility and governance for the enterprise segment, to help clients accelerate how they can use that data for their own growth. “Enterprises increasingly leverage proprietary data to anticipate and meet consumer needs,” Manish Agarwal, General Partner at AVP said. “The demand for sophisticated engineering tooling to handle private data will soar,” he continued, “and Ethyca is uniquely positioned to meet this critical demand.”

Manish added, “Our conversations with dozens of data privacy software buyers at enterprises highlighted widespread dissatisfaction with current solutions, often seen as lacking robust backend infrastructure for comprehensive data privacy management.” Mozilla, Axios and Ramp, among many others in 2024, have all made the switch to Ethyca after discovering the breadth and depth of Ethyca’s solution compared to legacy providers and upstart market competitors.

“Ethyca has raised the bar for the privacy sector,” Lars Leckie, Managing Director of Aspenwood said, “and has set a new bar for actually doing the management and deletion of data – this is both what consumers expect and want.” The company’s novel, engineering approach to data privacy is something that, Lars added, “no one else has figured out how to bring to market.”

Engineering Privacy for the Modern Enterprise

Ethyca’s ability to solve complex data governance challenges is underpinned by its open-source privacy engineering solution, Fides. Now the most widely adopted open-source privacy platform in the world, Fides powers privacy management for enterprises. Unlike traditional approaches, Fides integrates directly into technical infrastructure, allowing engineers to embed privacy at the core of their systems—delivering seamless compliance and data ethics at scale.

“Fides is a game changer for privacy engineering,” writes Neville Samuell, VP of Engineering at Ethyca. “It empowers engineers to operationalize privacy from the start, offering transparency and flexibility that traditional solutions can’t match. It’s more than just compliance—it’s about building automated tools for data management that can adapt to the evolving landscape of privacy regulations, instead of relying on patchwork processes.”

Strategic Vision for Growth

With the backing of Aspenwood Ventures and AVP, Ethyca is set to scale its impact globally. They are joining Ethyca’s existing investors, Des Traynor (Cofounder, Intercom), Guillermo Rauch (CEO, Vercel), Scott Belsky (CSO, Adobe) and Kevin Hartz (Cofounder, Eventbrite). This investment will go towards Ethyca enhancing key product capabilities and growing its team.

Today Ethyca also announces its new rebrand. These efforts along with continued investment in product development and customer success will lead Ethyca into a new growth phase in 2025. As the world’s largest organizations face increasing privacy complexities, Ethyca is primed to lead the charge, delivering practical, scalable solutions for the future of ethical data management.

About Ethyca

Ethyca is a world leader in data privacy and AI governance, offering engineer-first solutions for scalable data privacy systems for the modern enterprise. Trusted by leading companies across all sectors, including the New York Times, Surveymonkey, Mozilla, Axios and Ramp, Ethyca transforms how organizations engineer data privacy to build consumer trust and protect data for long-term growth. For more information, visit www.ethyca.com.

About Aspenwood Ventures

Aspenwood Ventures is a leading venture capital firm focused on early-stage enterprise software companies. With a strong track record of successful investments, Aspenwood has backed innovative companies that are transforming industries. The firm’s portfolio includes high-growth companies such as Mulesoft, Five9, Sonatype, Amberdata, MobileForce, Aria Systems, Wundergraph and Klue. By partnering with exceptional entrepreneurs Aspenwood is bringing the future of enterprise software to today.

​​About AVP

AVP is a global venture capital firm specializing in high-growth, technology-enabled companies, managing more than $2 billion in assets across four investment strategies: Venture, Growth, Late Stage, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Growth stages in the U.S. and Europe. With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth. For more information about AVP, please visit www.axavp.com.

Contacts

Ethyca
Michael Melia, Head of Marketing
press@ethyca.com
+1 (917) 830 3336

Aspenwood Ventures
Haley Etter, Executive Assistant (haley@aspenwoodvc.com)

AVP
Sébastien Loubry, Partner Business Development (sebastien@axavp.com)

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