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    507685   INE075A01022

WIPRO LIMITED

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End-of-day quote Bombay Stock Exchange  -  2022-08-11
436.15 INR   -0.51%
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Data security firm Immuta valued at $1 billion after latest fundraise

06/08/2022 | 07:30am EDT

June 8 (Reuters) - Data security firm Immuta said on Wednesday it was valued at $1 billion after a $100 million late-stage funding round led by venture capital firm NightDragon.

Cyber security companies, such as Immuta, Axonius and Securonix, have attracted investor interest recently due to strong demand for their services as businesses adopt a hybrid work model globally due to the COVID-19 pandemic.

Immuta, founded in 2015, offers a platform to help businesses automate data access control, security, privacy and compliance requirements.

"Companies are grappling with rising data volumes that are becoming more distributed, making it difficult for them to control access, ensure compliance and safely share data," NightDragon founder Dave DeWalt said, adding that Immuta was minimizing risks of data leaks.

The company's customers include the U.S. Army, luxury automaker Mercedes-Benz Group and financial services firm S&P Global Inc.

Immuta said it would use the new funds to accelerate product development and grow its marketing team to expand its footprint internationally.

"We are also exploring strategic M&A opportunities as we expect more industry consolidation," said Matthew Carroll, co-founder and chief executive officer of Immuta.

Several startups have turned to venture capital funding in recent months as public equity markets are reeling under pressure from the Ukraine conflict and aggressive moves from central banks to tame stubbornly high inflation.

In the first quarter this year, nearly 4,822 venture capital deals were completed in the United States, marking the highest number of closed transactions in any quarter on record, according to data from Pitchbook.

Other investors in Immuta's Series E round include Snowflake Ventures, Dell Technologies, DFJ Growth, Intel Corporation and Wipro Ltd.

It has raised $267 million in total capital so far.

(Reporting by Manya Saini and Niket Nishant in Bengaluru; Editing by Amy Caren Daniel)


© Reuters 2022
Stocks mentioned in the article
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INTEL CORPORATION -0.56% 36.14 Delayed Quote.-29.44%
MERCEDES-BENZ GROUP AG 1.04% 61.19 Delayed Quote.-10.40%
WIPRO LIMITED -0.51% 436.15 End-of-day quote.-39.02%
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Financials
Sales 2023 907 B 11 402 M 11 402 M
Net income 2023 119 B 1 491 M 1 491 M
Net cash 2023 229 B 2 880 M 2 880 M
P/E ratio 2023 20,3x
Yield 2023 1,95%
Capitalization 2 391 B 30 077 M 30 077 M
EV / Sales 2023 2,39x
EV / Sales 2024 2,09x
Nbr of Employees 258 574
Free-Float 26,6%
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Mean consensus HOLD
Number of Analysts 41
Last Close Price 437,10 INR
Average target price 451,90 INR
Spread / Average Target 3,39%
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Managers and Directors
Thierry Delaporte CEO, Executive Director & Managing Director
Jatin Pravinchandra Dalal President & Chief Financial Officer
Rishad Azim Premji Executive Chairman
Subha Tatavarti Chief Technology Officer
Harmeet Chauhan Global Head-Engineering, Research & Development
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