Collibra Corp.’s effort to streamline the way enterprises manage their vast troves of information has received a big boost from the venture capital community.

The data governance provider today announced the completion of a $58 million investment, its fourth round so far, led by Battery Ventures and Iconiq Capital. The latter fund is notable for managing money on behalf of numerous prominent tech figures including Mark Zuckerberg. Several other returning investors contributed to Collibra’s new raise as well.

The cash infusion is intended to help the provider grow its presence in the data governance market. Collibra’s namesake platform promises to help companies manage their records in a more organized manner by defining rules on how records may be handled.

A bank, for instance, could require that staffers receive supervisor approval before they modify important financial data. Collibra says that every action is logged in case certain information may have to be revisited further down the road. This can be useful when company needs to investigate a potential error, or demonstrate that it’s in compliance with the often strict laws governing data usage.

Data transparency is particularly important for enterprises in regulated industries such as healthcare and finance. Large organizations in general are coming under increased pressure to improve how they handle sensitive records, due partially to the General Data Protection Regulation currently being implemented by the European Union. The law will require enterprises with customers in the EU to adopt new safeguards for protecting user privacy by May.

Alongside the governance features, Collibra offers a tool called Data Catalog that focuses on automating the more everyday aspects of how information is used in a company. The provider said the software acts as an internal marketplace where workers can quickly find the specific records they’re after regardless of where they may be.

According to Collibra, it plans to double down on feature development in the wake of today’s funding announcement. The round follows a year in which the company released two new versions of its platform and hired about 50 more employees. 

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