Osano secures $25M to expand its privacy compliance platform

CLOUD

Privacy management software startup Osano Inc. announced today that it had raised $25 million in new funding to expand its team and try to deliver on its goal of simplifying privacy compliance and becoming the leading data privacy platform.

Founded in 2018, Osano offers a data privacy compliance suite that assists businesses in complying with data regulations such as the European Union General Data Protection Regulation and California’s Consumer Privacy Act.

The suite is designed to simplify privacy compliance by helping organizations build, manage and scale their privacy program to increase trust and stay compliant. Osano claims that users of its suite can “serve as stewards of consumer privacy” with automated, simplified compliance that ensures consumer consent.

The company argues that as organizations expand their global footprint, evolving regulations, laws and standards have unique requirements that must be met to maintain compliance. Using Osano, business leaders can be assured that their data privacy and compliance programs are up to scratch and that resources are properly allocated to focus on compliance tasks that can’t be automated.

“At Osano’s inception, we had a singular focus: revolutionizing data privacy and compliance while growing responsibly, and this raise is a testament to that focus,” said Arlo Gilbert, Osano’s co-founder and chief executive officer.

Osano has seen strong growth, seeing triple-digit growth in its customer base and a 126% increase in platform utilization over the last year. The company also launched its Osano Privacy Maturity Model and a new data mapping product in July.

With the new funding, Osano intends to expand its engineering resources and its sales and marketing teams to expand its footprint across the enterprise market.

Baird Capital LLC led the Series B round, with Jump Capital LLC, LiveOak Venture Partners LP, Next Coast Ventures LLC, TDF Ventures LP and First Ascent Ventures LLC also participating. Including the new funding, Osano has raised  $44.4 million to date, according to data from Crunchbase.

Photo: Osano