Osano, which aims to improve data privacy transparency, has closed a $5.4m Series A just months after closing its seed round.
The round was co-led by LiveOak Venture Partners and Next Coast Ventures.
With the fresh proceeds, Osano is looking to deepen its research and development efforts, marketing initiatives and hiring more staff to meet rising demand.
Osano closed its seed round on $3m in March, which also coincided with its launch from stealth. Its seed backers were LiveOak Ventures, Next Coast Ventures, Capital Factory, Social Starts, Barracuda Networks and several angel investors.
Founded in 2018, the company provides a data privacy platform which can automate data governance. Its tool suite includes consent management, DSAR, GDPR compliance, vendor risk management, policy change detection, vendor lawsuit alerts and PII tracking.
Osano has released its Privacy Monitor solution which is a free browser plugin and mobile app designed to help users better understand how websites, software vendors or other service providers use their private data.
Its technology analyses thousands of online privacy policies and relays these to its analysis tools in order to make informed decisions on how they interact and share data with those websites and service providers.
More than 750,000 companies use Osano on 3.5 million websites, serving 2.5bn cookie consent pop-ups each month, the company claims.
LiveOak Venture Partners founding partner Venu Shamapant said, “From fake social media accounts to endless data theft, the Internet has become full of privacy and compliance hazards.
“As laws like CCPA become commonplace, companies are scrambling to keep up with their vast networks of vendors. Osano is the right solution at the right time, and we’re proud to help companies meet their obligations without fear or pain.”
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