As Adoption Spikes, the Platform Leader's Growing Roster of Customers Is Proving Automated Compliance and Privacy Auditing and Management is Good for Business
NEW YORK, July 31, 2024 /PRNewswire-PRWeb/ -- SafeGuard Privacy, a SaaS-based compliance platform that allows publishers, agencies, brands, data providers, and tech platforms to assess, audit, and comply with global privacy laws, today announced it has closed a $3.6M USD funding round. The company's new investment round was led by TechOperators, Dynamism Capital, Sidekick Partners, and two other existing investors.
Since SafeGuard Privacy's founding in 2019, global privacy laws proliferated and demand for automated compliance increased exponentially in response. During this period:
- 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.
- SafeGuard Privacy partnered with the IAB to launch the IAB Diligence Platform to standardize and streamline vendor due diligence across the digital advertising ecosystem.
- SafeGuard Privacy platform users reported efficiency gains as high as 80%+.
"We take our compliance responsibilities very seriously, and tracking all the requirements is important but time-consuming work," said Paul Bannister, Chief Strategy Officer at Raptive.
"SafeGuard Privacy has helped reduce busy work for our team and right-sized our reliance on lawyers,"
"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," said SafeGuard Privacy co-founder and CEO Richy Glassberg. "In short, standardization equals scale."
The fact that customers are now quantifying how valuable integrating SafeGuard Privacy is for their business is one of several factors that attracted SafeGuard Privacy's latest funding round.
According to Dave Gould, General Partner in Tech Operators," 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."
"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," said Jonathan Greenglass, Managing Partner, Dynamism Capital.
Glassberg and his team plan to use the latest investment round to expand SafeGuard Privacy's:
- Innovative legal AI and next-generation DPIA products
- Universal risk-based assessments, including its upcoming first-of-its-kind 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
- Brand-direct and organizational service and partnerships
Initially, SafeGuard Privacy's clients adopted its software to comply with a wide range of privacy laws, including the California Consumer Privacy Act and GDPR. Today, it is being used for much more.
About SafeGuard Privacy
SafeGuard Privacy is the preferred comprehensive privacy compliance management and collaboration platform for top global brands, agencies, publishers, technology companies, and trade organizations., SafeGuard Privacy powers the IAB Diligence Platform, a solution created to standardize, modernize, and improve privacy diligence practices for the digital advertising industry as well as providing the backbone to the Network Advertising Initiative (NAI) and the BBB National Programs CARU SafeHarbor. Companies of all sizes count on SafeGuard Privacy's comprehensive independent assessments to evaluate their company's privacy programs and guide them on their path to compliance. SafeGuard Privacy's workflow management and governance tools, empower businesses with everything they need to mitigate risk and demonstrate compliance -- all while saving time and money. The Vendor Compliance Hub solves the industry RFI process, making it easy for vendors to demonstrate privacy compliance to their partners and mitigate third-party liability. For more information, visit www.safeguardprivacy.com.
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Lorene Bagley-Kane, Purpose Worldwide, 1 3077131043, Lorene@purposenorthamerica.com
SOURCE SafeGuard Privacy
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