MUNICH--(BUSINESS WIRE)--Usercentrics, leading SaaS Consent Management Platform today announced a Series A financing round led by growth fund ALSTIN, with participation from existing investors Cavalry Ventures and Reimann Investors. The new multi-million investment will allow accelerated product development and customer growth as companies worldwide are preparing for stricter privacy regulations.
The Usercentrics SaaS enables companies to collect, manage and document user consent. The technology is already successfully implemented by hundreds of customers, including Fortune 500 companies as Telefonica, T-Mobile and Commerzbank.
"The proper management of the user's consent has become a relevant constraint for data-driven business models and thus a competitive advantage. Without consent, personal data is worth nothing; and without data, consent is worthless. Data and their consents only become valuable after being merged. Usercentrics therefore generates consent IDs and attaches them directly to the data,” comments Mischa Rürup, founder and CEO of Usercentrics.
With the California Consumer Privacy Act (CCPA) and the Brazil General Data Protection Act (LGPD) becoming effective in 2020, Usercentrics plans to expand rapidly. Global expansion will be achieved through strategic partnerships and white-label solutions. In April, Usercentrics recruited Senior Google Manager Jürgen Weichert to build a global partner program. As former Head of Strategic Partnership Development at Google DACH, he generated + $100 million / quarter in partner sales.
Carsten Maschmeyer, Founder of ALSTIN: "Usercentrics is pioneering in a software category that will be essential to organizations worldwide. We believe a German provider is ideally positioned to become global market leader in this category as data protection and secure tech is a core expertise."
Usercentrics was founded in late 2017 by Mischa Rürup (prev. founded and sold intelliAd to DHL), Vinzent Ellissen and Lisa Gradow.
About Usercentrics: Headquartered in Munich, Usercentrics’ vision is to create a new infrastructure for user consent across data architectures making privacy practical. As a leading Consent Management Platform (CMP), the SaaS solution enables businesses to collect, manage and document user consents across all digital channels ensuring compliance with international privacy regulations. Since foundation in late 2017, the company has grown significantly and now counts hundreds of leading organizations as customers. Usercentrics is backed by premier venture capital investors including ALSTIN, Reimann Investors and Cavalry Ventures.