Osano, an Austin, Texas-based data privacy platform that helps websites become compliant with international regulations, raised $11 million in Series A round.
The round was led by Jump Capital, bringing its total raised to $22.3 million.
The fund will be used to support international expansion, hire additional sales, marketing, and engineering staff.
Company: Osano, Inc., A Public Benefit Corporation
Raised: $11.0M
Round: Series A
Funding Month: September 2021
Lead Investors: Jump Capital
Additional Investors:
Company Website: https://www.osano.com/
Software Category: Data Privacy
About the Company: Osano was founded in 2018 by Arlo Gilbert and Scott Hertel. The pair bet that companies would become heavily focused on data privacy and that GDPR and California’s Consumer Privacy Act were only the beginning of legislation spurred by scrutiny of big tech. Osano’s machine learning system scans API endpoints for SaaS providers, determining whether documents contain personal data and classifying any personal data into one of 165 different buckets. AI models trained on billions of live data samples, both public and private, rate privacy practices and map out third parties with whom Osano users are sharing data. Osano, used by more than 750,000 companies (27,000 of which are paying customers), leverages a data privacy scoring graph data set curated by U.S. bar-certified attorneys.
Source: https://venturebeat.com/2021/09/22/osano-a-data-compliance-platform-raises-11m/