InfoSum, a London-based startup that provides a decentralized platform for secure data sharing between organizations, has secured a $65 million Series B funding round led by Chrysalis Investments.
The investment comes less than a year after InfoSum closed a $15.1 million Series A round co-led by Upfront Ventures and IA Ventures. Since, the data privacy startup has tripled its revenue, doubled its employee base and secured more than 50 new customers, including AT&T, Disney, Omnicom and Merkle.
Its growth was boosted by businesses that are increasingly focused on data privacy, largely as a result of the mass shift to remote working and cloud-based collaboration necessitated by the pandemic. InfoSum’s data collaboration platform uses patented technology to connect customer records between and amongst companies, without moving or sharing data. It helps organizations alleviate security concerns, according to the startup, and is compliant with all current privacy laws, including GDPR.
The platform was bolstered earlier this year with the launch of InfoSum Bridge, a product which it claims significantly expands the customer identity linking capabilities of its platform. It is designed to connect advertising identifiers along with its own “bunkered” data sets to better facilitate ad targeting based on first-party data.
“The technology that enables companies to safely and securely compare customer data is thankfully entering a new phase, driven by privacy-conscious consumers and companies focused on value and control. InfoSum is proud to be leading the way,” said Brian Lesser, chairman and CEO of InfoSum. “Companies are looking for solutions to help resolve the existing friction and inefficiencies around data collaboration, and InfoSum is the company to drive this growth forward.” Source: Techcrunch
In a more recent announcement InfoSum stated that it is restructuring its management
Uli Hegge becomes head of Privacy: In this global role, Hegge will devote himself to the topic of privacy and ensure that the product continues to develop in line with the applicable data protection regulations. Central Europe, and especially Germany, are leading the way in data protection and giving the rest of the world a clear example of how to protect consumer privacy.
Lauren Wetzel becomes Chief Operating Officer (COO). In her new role, she is responsible for global marketing, strategy & operations and people management.
Danvers Baillieu will take on the newly created position of President & Business Affairs. In this role, he will be responsible for legal, security and compliance in order to drive the company’s expansion into new regions.
Richard Foster also remains in his role as Chief Revenue Officer (CRO). The revenue and sales areas are now managed globally by Foster.
Nick Halstead will also remain with the company as founder and Chief Technology Officer (CTO). He is responsible for engineering as well as the product and solutions team. Halstead will continue to work on product innovations and developments. Source: Adzine
