DataGrail, a newly-founded personal data privacy startup, has raised $4m in Series A funding at a $16M valuation.
Cloud Apps Capital Partners was the lead investor, with participation from Gunderson Dettmer. Based in San Mateo, California, DataGrail was founded earlier this year by Daniel Barber, Ignacio Zendejas, and Earl Hathaway.
Due to stringent and changing privacy regulations, organisations that operate in the EU and California are met with uncertainty and regulatory challenges. Company’s’ third-party systems, particularly in the sales, marketing, and adjacent spaces, were not built to be compliant. This is what DataGrail aims to change.
Tom Villeneuve, co-founder and co-head of Gunderson Dettmer’s intellectual property practice, said, “our firm’s clients have made significant investments to prepare for the GDPR and other privacy frameworks, and DataGrail presents an opportunity for growing companies to address the significant compliance challenges facing businesses today.”
DataGrail claims to set a new standard for privacy and transparency by making it easy for anyone to see exactly what data a company has about them, and what they use that data for. The likes of Databricks and Outreach are already using DataGrail to provide their communities transparency in their data.
The company offers a compliance solution for multiple legal frameworks, including EU regulations GDPR and ePrivacy, and Californian regulation CCPA. The company claims to easily surface data internally and from third-party systems and show the customer how that data is being used. It integrates sales, marketing, support, and SaaS systems, providing a 360-view of personal and interaction data, with no coding required.
Barber added, “as our identities merge between the physical and digital world, individuals deserve and expect visibility into how their data is used, processed, and sold. We’re going to give them that transparency while solving the compliance nightmare companies now face.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
