Data privacy platform Transcend has closed its Series A round on $25m to continue its growth rate.
Index Ventures led the investment alongside Accel, with additional commitments coming from South Park Commons, Goldman Sachs board member and former CISO Phil Venables, and Figma CEO Dylan Field.
The company was founded in 2017 with the goal of making it “simple for companies to give users control over their data.” To achieve this, the company has built a new data privacy infrastructure which integrates into a company’s database and applications, automatically handling requests end-to-end with no human intervention required.
Index Ventures partner Mark Goldberg said, “In the wake of dozens of stories about privacy issues on video-conferencing sites, data breaches at retail companies and targeted election ads on Facebook, consumers are increasingly aware and concerned about how their personal data is used, which is pushing government regulators to step up.
“However, even companies who want to prioritize data privacy can struggle to fulfil requests efficiently and at scale. Transcend solves that problem, empowering users to take control of their data and businesses to stay compliant without any additional work. Privacy will define the next chapter in internet history, and Transcend is becoming a critical part of the story.”
The Rotech platform preciously closed its seed round on $4m back in 2019.
Copyright © 2020 FinTech Global