Osano, the data privacy management software provider, is announcing its achievement of a major financial milestone—a $25 million Series B funding round—led by Baird Capital, with participation from Jump Capital, LiveOak Venture Partners, Next Coast Ventures, TDF Ventures, and First Ascent Ventures. The funding will serve to boost Osano’s team investments as well as propel financing in both research and go-to-market initiatives.
The context of Osano’s work and funding is spurred by this statistic: over two-thirds of global consumers are either very or somewhat concerned about their privacy online, according to an IAPP Principal Researcher survey. This data, compounded with the fact that growing organizations face increasingly complex and inconstant regulations, laws, and standards, places security at the forefront of concern.
With this in mind, Osano’s mission becomes clear, offering its services to help organizations “navigate the intricate and ever-changing domain of privacy regulations” which “demands specialized knowledge and substantial effort,” according to Arlo Gilbert, co-founder and CEO of Osano.
Osano’s all-in-one data privacy platform empowers organizations to build, manage, and scale their privacy programs from the ground-up, saving time and resources while simultaneously reducing the risk of compliance, according to the company.
“When Baird Capital evaluates organizations to see if they’re a good fit for our portfolio, it’s critical that the company’s leadership have a clear vision and goal in mind,” said Mark Donnelly, partner at Baird Capital. “Arlo and the Osano team epitomize this mindset, and we quickly knew this relationship would be a good fit. Since its inception, the company has remained entirely focused on building an enterprise data privacy platform to automate and ensure compliance in a rapidly changing regulatory environment.”
The recent funding will fuel Osano’s growing team, enabling the company to expand and inspire innovation throughout multiple departments, including engineering, product development, and sales. It will also be utilized to invest in research and development, as well as in building a channel program that will expand Osano’s product suite to anticipate ongoing customer needs.
“With this capital, Osano has the resources it needs to further the innovation of its data privacy platform to continue to meet the needs of its customers and simplify data privacy compliance,” explained Gilbert.
Osano’s finance milestone comes on the heels of several achievements, including triple-digit growth in its customer base, a 126% increase in platform usage in the past year, workplace awards, and G2 recognition, according to the company. On the development front, Osano’s recent innovations include a Privacy Program Maturity Model, a data mapping product, and a Vendor Discovery capability added to its platform.
To learn more about Osano’s data privacy management software, please visit https://www.osano.com/.