When we founded DataGrail in 2018, we didn’t know what our journey would be like, but we were determined to solve a massive problem— help brands build customer trust and deliver on their commitment to transparency in the Privacy Era. Today, I’m thrilled to announce that we secured $30 million in Series B funding to accelerate on our mission. We are fortunate to have Felicis Ventures leading the round, with the uber-talented Victoria Treyger (General Partner and Managing Director) joining our board of directors. Felicis Ventures was joined in the round by leaders in today’s SaaS ecosystem, including HubSpot, DocuSign, and Okta. Next47, the global venture firm backed by Siemens, also participated, along with Basis Set Ventures, Operator Collective, and all of DataGrail’s previous investors. Every existing firm increased their investment in DataGrail.
Building Trust and Transparency Earns Loyalty
In a post-Cambridge Analytica world, consumers are much more mindful of their privacy, and governments are responding with new comprehensive data privacy regulations. Just last week, Virginia passed the CDPA, and more US state legislation and even federal legislation is sure to follow. Companies from Signal, to Dyson and Plume are leveraging privacy to cultivate customer loyalty. Even Zoom, after a spring filled with “Zoombombing,” has won people over by being honest and transparent about the steps (and missteps) they’ve taken regarding privacy.
Companies are recognizing that access to personal data is a social contract, and trust is a measure of how well that social contract is doing. The companies that earn that trust can then focus on other core revenue-generating activities that delight customers, grow brand affinity, and benefit their bottom line.
Privacy Is Messy, But We’re Making It Effortless
Getting privacy right is notoriously messy and time-consuming. So many organizations have no idea where to start, and legacy privacy solutions don’t solve the underlying problem of surfacing where personal data lives in an organization. When our team talks with legal counsels, IT teams, and security experts at our customers’ organization, the sense of overwhelm is palpable. We’ve generally found there is not a single person in a given organization who knows all the apps and infrastructure within their org, and what personal data flows through them.
And this is where DataGrail comes in.
We’ve built a platform to make privacy management a surprisingly easy process. DataGrail allows businesses to automatically understand the apps and infrastructure they use, what personal information exists in those systems, and provides the ability for people to control how their information is used by the company. DataGrail’s Integration Network currently connects with more than 900 of the most popular apps and infrastructure providers. Unlike anyone else, we build and maintain our own connectors and integrations rather than partnering with a middleware vendor. This ensures DataGrail remains in control, promising easy onboarding, accuracy, real-time maintenance, heightened security, and ability to detect the shadow IT that contains sensitive customer data.
What’s Next for DataGrail
This ecosystem-driven approach has proven exceptionally effective. We’ve built incredible customer relationships with forward-thinking businesses, including Databricks, Dexcom, Okta, WWE, RH, Revolve, and Overstock. Market validation and strong momentum are fueling our ability to impact the privacy landscape on a profound level.
With our Series B funding, plus the unparalleled expertise of our board, we’ll be investing even more in research and development, and adding more people to our world-class team. We’re hiring in all departments. Our team is making privacy a differentiator that works for both consumers and businesses, and we would love for you to join us on our journey.