Receives $ 50 Million for Data Management Modernization

<pre><pre> Receives $ 50 Million for Data Management Modernization, a San Jose startup, is working to improve data management and security in a modern way. Today, the company announced a $ 50 million Series B led by General Catalyst with Mayfield's participation.

The company, which was only founded in 2019, has already collected $ 81 million. What attracts all of these investments in such a short period of time is that the company is addressing a problem that is increasingly affecting companies around the world due to a growing number of data protection regulations such as GDPR and CCPA.

These laws force companies to understand existing data and to find ways to summarize this data in a single view and, if necessary, to respond to customer requests to remove or correct some of them. It is difficult to solve this problem when customer data is spread across multiple applications and is often shared with third parties and partners.

The company's CEO and founder, Rehan Jalil, says the goal of his startup is to provide an operating platform for customer data, an area he has shaped PrivacyOps to help companies give their customers more control over their data provide, as the laws increasingly dictate.

“Ultimately, it is about granting individuals the rights to the data: the right to privacy, the right to erasure, the right to edit, the right to stop processing. That is the company's charter and mission, ”he told TechCrunch.

You first define your data sources, then a bot goes out and collects customer data about all the data sources you have defined. The company has links to over 250 common modern and conventional data sources. As soon as the bot collects the data and creates a central data record, the results are checked, adjustments are made and final decisions are made on how to handle a data request.

It has a number of security templates for different types of data protection regulations, e.g. B. GDPR and CCPA. The bot looks for data that must meet these requirements and lets the governance team see how many records may violate the criteria you set. data view. Screenshot: (cropped)

The package includes a number of tools, including ways to check your privacy readiness, provider ratings, data cards, and data breaches to take a full look at data protection.

The company, founded in 2019, grew to 185 employees in just five months, a number that is expected to increase with the new funding next year.