AUSTIN, Texas, Aug. 10, 2023 /PRNewswire/ -- Osano today announces 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. In addition, Mark Donnelly, Partner at Baird Capital, will be joining the Board and Katharine Tomko, Partner at First Ascent Ventures and former Facebook Head of Privacy Programs, will be joining as a Board Observer.
With this funding, Osano will continue to build the team to deliver on the company's mission and goal of simplifying privacy compliance and becoming the leading Data Privacy platform. Key initiatives will include expanding multiple departments, including engineering, product development and sales; investing more in research and development; and building a channel program to expand its product suite and anticipate its customers' needs while maintaining its extraordinary customer service satisfaction rating.
According to a recent survey, over two-thirds of global consumers are either very or somewhat concerned about their privacy online. With Osano, businesses can serve as stewards of consumer privacy with automated, simplified compliance, ensuring consumer consent. As organizations expand their global footprint, evolving regulations, laws and standards have unique requirements that must be met to maintain compliance. With Osano, business leaders can rest assured that their data privacy and compliance programs are up to par and resources are reallocated to focus on compliance tasks that can't be automated.
"At Osano's inception, we had a singular focus: revolutionizing data privacy and compliance while growing responsibly, and this raise is a testament to that focus," said Arlo Gilbert, co-founder and CEO of Osano. "We aren't striving to get to a billion-dollar valuation or massive headcount, but instead are focused on providing a superior experience for our customers and employees. Our team eats, sleeps, and breathes data privacy. With this raise, we are doubling down in the space and ensuring that our vision and mission revolve around helping enterprises keep up with the constantly changing laws and regulations."
Leveraging the recent capital infusion, Osano will expand its engineering resources to further innovate data privacy. The sales and marketing teams will also be a key focus as Osano looks to expand its footprint across the enterprise market.
"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. I look forward to watching Osano grow and continue to contribute to this fast-growing sector."
Katharine Tomko, Partner at First Ascent Ventures, said, "I've spent nearly 20 years working in online privacy. When I designed and implemented the privacy program at Facebook, the laws, regulations and scrutiny that companies face today were not in place, and it was still incredibly complicated to manage. As I have watched the privacy landscape shift over the past decade, building and managing privacy programs has only become more challenging making data privacy one of the biggest risks for organizations right now. Osano is a must-have for all enterprises committed to doing the right thing, ensuring regulatory compliance and empowering privacy teams to streamline operations. When privacy teams thrive, the entire organization reaps the rewards."
Osano is leaving a significant footprint on the data privacy industry through innovative solutions and achievements. In addition to seeing triple-digit growth in its customer base and a 126% increase in platform utilization over the past year, Osano also recently developed a Privacy Program Maturity Model to help privacy leaders understand opportunities for growth and advancement. Lastly, the organization launched a new Data Mapping product and enhanced its overall platform with a new feature, Vendor Discovery, both of which break down privacy leaders' barriers to finding and managing the personal information their organization processes. Recognized with workplace awards and G2 recognition, Osano's continuous growth highlights the need for privacy-driven solutions amidst the ever-increasing challenges and complexities of modern data-driven environments.
For more information on Osano and this news, visit www.osano.com.
Osano, a leading data privacy platform, simplifies privacy compliance by helping organizations build, manage, and scale their privacy program to increase trust, stay compliant, and do the right thing. Founded in Austin, Texas, in 2018, the fully remote data privacy management company helps organizations access consent management, data subject rights requests, privacy assessments, and vendor monitoring all in one place. Osano is recognized as a leader in consent management and a momentum leader in data privacy management by G2. The organization is also recognized as a Best Place to Work for 2023. Learn how Osano can simplify data privacy for you at https://osano.com.