Osano, a company aiming to improve data privacy transparency, has bagged $3m in its seed funding round, alongside its launch from stealth.
The capital injection was led by LiveOak Ventures with participation also coming from Next Coast Ventures, Capital Factory, Social Starts, and Barracuda Networks. A handful of angel investors also contributed to the round including 345Partners co-founder Michael Perone, Bazaarvoice founder Brett Hurt, and Indeed founder Rony Kahan.
Founded in 2018, Osano has released its Privacy Monitor solution which is a free browser plugin and mobile app designed to help users better understand how websites, software vendors or other service providers use their private data. Its technology analyses thousands of online privacy policies and relays these to its analysis tools in order to make informed decisions on how they interact and share data with those websites and service providers.
The tool gives websites specific privacy reputation scores and provides users with an indication on whether that number is increasing of decreasing. A reputation score is established after identifying how a company gathers and utilises data, where and with whom it is shared with, how it is stored and whether they comply with regulations such as GDPR, as well as a number of other factors.
Osano CEO and co-founder Arlo Gilbert said, “The average person doesn’t understand where their personal data goes in terms of how websites and service providers use and share it.
“With data privacy at the constant forefront of tech industry and consumer conversations, greater transparency is desperately needed on the web to unlock the secrecy of convoluted privacy policies and give users control over their data again.”
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