SafeGuard Privacy, a SaaS-based compliance platform that enables publishers, agencies, brands, data providers, and tech platforms to assess, audit, and comply with global privacy laws, announced it has closed a $3.6 million funding round. And the company’s new funding round was led by TechOperators, Dynamism Capital, Sidekick Partners, and two other existing investors.
Since SafeGuard Privacy launched in 2019, global privacy laws have proliferated, and demand for automated compliance has increased exponentially in response. During this period:
1.) SafeGuard Privacy was adopted by several of the world’s largest corporations, as well as leading industry trade associations, software and data companies, including BBB National Programs, NAI, OneTrust and TransUnion.
2.) SafeGuard Privacy partnered with the IAB to launch the IAB Diligence Platform to standardize and streamline vendor due diligence across the digital advertising ecosystem.
3.) SafeGuard Privacy platform users reported efficiency gains as high as 80%+.
The company plans to use the latest investment round to expand SafeGuard Privacy’s innovative legal AI and next-generation DPIA products; universal risk-based assessments, including the upcoming Multi-State Sensitive Data assessment, a capability that consolidates obligations across states and removes overlap to help companies manage the high-risk obligations for each state; and brand-direct and organizational service and partnerships
KEY QUOTES:
“We take our compliance responsibilities very seriously, and tracking all the requirements is important but time-consuming work. SafeGuard Privacy has helped reduce busy work for our team and right-sized our reliance on lawyers.”
— Paul Bannister, Chief Strategy Officer at Raptive
“Customers like Raptiv are proving that Automated Compliance and Privacy Auditing and Management is Good for Business because once SafeGuard is in place, a significant cost of doing business is eliminated and the insights gleaned from our outputs can be put to use to do business at a scale impossible in the past. In short, standardization equals scale.”
– SafeGuard Privacy co-founder and CEO Richy Glassberg
“SafeGuard Privacy is the clear leader in the privacy risk mitigation market. They’ve established partnerships with most of the prominent players in the ecosystem and are uniquely positioned to help organizations protect themselves from expanding privacy legislation and the corresponding fines. We’re proud to be working with SafeGuard Privacy as they expand their solution for this fast-changing market.”
– Dave Gould, General Partner in Tech Operators
“We’re thrilled to partner with Richy and the team at SafeGuard Privacy. Not only have they earned the trust and respect of the industry, they have built world-class privacy software that can be adopted easily so users can spend less time managing and auditing compliance and more time doing business.”
– Jonathan Greenglass, Managing Partner, Dynamism Capital
