Ketch officially comes out of stealth with a $23m Series A funding round with the aim to automate data compliance for businesses.
The round included backing from super{set}, CRV, Acrew Capital, and Ridge Ventures, Krux and Silicon Valley Bank. Led by co-founders Tom Chavez and Vivek Vaidya, the company’s board of directors will include general partner at CRV Izhar Armony and founding partner at Acrew Capital Theresia Gouw.
Chavez and Vaidya co-founded Krux in 2010, which was then acquired by Salesforce in 2017. Chavez also founded Rapt, which Microsoft acquired in 2008.
Ketch builds consumer privacy preferences into internal systems and external platforms, such as customer relationship management, e-commerce and analytics.
Its software automates the collection and use of consumer data to ensure smoother compliance. The company’s platform includes the ability to leverage one framework to manage complex global privacy programs by specifying, initiating and enforcing the right privacy program for every consumer in every region, in addition to cross-channel consent management, data subject rights requests and data security and controls.
With newer regulations being imposed and rules such as Europe’s GDPR, businesses need to ensure they comply with all regulations. As a result, the firm aims to automate data privacy and security.
Commenting on the company launch, Chavez said, “Today, too many companies believe they face a zero-sum tradeoff: capture and use data to grow, or comply with regulations and sacrifice growth.
“Ketch gives them intelligent, policy-managed infrastructure to survive and thrive by capturing data responsibly at every consumer touchpoint while ensuring compliance, control, and security wherever the data lies, however it’s used.”
Echoing a similar sentiment, Izhar Armony of CRV said, “At a time when trust with consumers is at an all-time low, GDPR, CCPA, and other privacy regulations are no longer a state of mind. The fines are real, and the costs of compliance are spiralling.”
The news comes on the heels of Ketch’s recent launch of PrivacyGrader.com, a free privacy score that helps businesses measure risk in privacy compliance.
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