Pioneering Data Privacy Platform, Osano, Raises $25 Million in Series B Funding
AUSTIN, Texas – Osano, a leading data privacy platform, has announced the successful completion of a $25 million Series B funding round. The round was led by Baird Capital, with participation from Jump Capital, LiveOak Venture Partners, Next Coast Ventures, TDF Ventures, and First Ascent Ventures. The funding will be used to support Osano‘s mission of simplifying privacy compliance and establishing itself as the premier data privacy platform.
Addressing Growing Privacy Concerns
In today’s digital age, privacy is a growing concern for individuals and organizations alike. A recent survey revealed that over two-thirds of global consumers have serious concerns about their privacy online. Osano aims to address these concerns by empowering businesses to serve as responsible stewards of consumer privacy through automated and simplified compliance processes.
Expansion and Focus on Compliance
With the new funding, Osano plans to expand its team across multiple departments, including engineering, product development, and sales. This expansion will allow the company to invest more in research and development, ensuring continued innovation in data privacy solutions. Additionally, Osano will build a channel program to expand its product suite and meet the evolving needs of its customers.
As organizations expand their global presence, complying with changing regulations, laws, and standards becomes increasingly complex. Osano provides business leaders with peace of mind, knowing that their data privacy and compliance programs are up to par. By automating routine compliance tasks, Osano allows resources to be reallocated to focus on critical compliance tasks that require human expertise.
A Singular Focus
Osano‘s co-founder and CEO, Arlo Gilbert, emphasizes the company’s singular focus on revolutionizing data privacy and compliance. Gilbert states that Osano is not driven by attaining a billion-dollar valuation or massive headcount but rather by providing a superior experience for their customers and employees. The company is doubling down on its vision and mission, ensuring that enterprises can keep up with the ever-changing laws and regulations surrounding data privacy.
Revolutionizing Data Privacy through Innovation
Osano‘s recent capital infusion will enable the expansion of its engineering resources to further innovate data privacy solutions. The company also aims to strengthen its sales and marketing teams, with a particular focus on penetrating the enterprise market segment.
Building Trust through Vision and Goal
Mark Donnelly, a Partner at Baird Capital, emphasizes the importance of a clear vision and goal in evaluating companies for investment. Donnelly highlights Osano‘s leadership team as exemplifying this mindset. Since its inception, Osano has remained focused on building an enterprise data privacy platform that automates compliance in a rapidly changing regulatory environment. Baird Capital looks forward to witnessing Osano‘s growth and continued contribution to this fast-growing sector.
The Complexity of Privacy Program Management
Katharine Tomko, a Partner at First Ascent Ventures and former Head of Privacy Programs at Facebook, underscores the complexity of building and managing privacy programs in today’s regulatory landscape. As privacy regulations become more stringent, organizations face significant risks. Tomko believes that Osano‘s platform is essential for enterprises committed to doing the right thing, ensuring regulatory compliance, and streamlining privacy operations. When privacy teams thrive, the entire organization benefits.
Osano‘s Impact on the Data Privacy Industry
Osano‘s innovative solutions and achievements have contributed to its significant footprint in the data privacy industry. Over the past year, the company has experienced triple-digit growth in its customer base and a 126% increase in platform utilization. Osano has recently developed a Privacy Program Maturity Model, enabling privacy leaders to identify growth opportunities. Additionally, the company launched a Data Mapping product and enhanced its platform with the Vendor Discovery feature, simplifying privacy leaders’ ability to manage personal information within their organizations.
Osano‘s continuous growth underscores the increasing need for privacy-driven solutions in today’s complex data-driven environments. The company’s dedication to providing tailored data privacy solutions has been recognized with workplace awards and G2 recognition, solidifying its position as a leader in the industry.
For more information on Osano and its recent funding, please visit Glenn Carstens-Peters >>
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