NYC-based data collaboration platform provider InfoSum raised $65m in Series B funding to help companies match customer data in a privacy-compliant way.
Chrysalis Investments provided the funding, which brought the total amount raised to date to $90m since its inception in 2016. In conjunction with the investment, Chrysalis Investment’s Richard Watts will be added to the InfoSum Board.
The investment comes less than a year after InfoSum closed a $15.1m Series A round co-led by Upfront Ventures and IA Ventures. Since, the data privacy startup has tripled its revenue, doubled its employee base and secured more than 50 new customers, including AT&T, Disney, Omnicom and Merkle.
The company intends to use the funds to accelerate hiring across every aspect of the business, expand into new regions, and further the development of its platform.
Led by Brian Lesser, Chairman and CEO, and Nick Halstead, Founder and CTO, InfoSum is a data collaboration platform which helps organisations alleviate security concerns, according to the startup, and is compliant with all current privacy laws, including GDPR. It does so by empowering companies to deliver customer experiences while prioritising customer privacy. Using patented, privacy-first technology, the solution connects customer records between and amongst companies, without moving or sharing data. Since launching the platform in 2019, global customer-oriented companies across financial services, CTV, retail, healthcare, gaming, and entertainment have used InfoSum.
Since the closing of InfoSum’s Series A in September 2020, the company has tripled its revenue, doubled its employee base, entered into multiple new markets, and signed more than fifty new customers. Its customisable, customer-centric approach enables companies to unlock the full potential of their data, delivering better business outcomes while prioritising the privacy of consumers.
InfoSum has already set the industry standard for private and secure data collaboration. The company’s approach to customer data collaboration, called the ‘non-movement of data,’ has been validated by leading businesses increasingly focused on privacy, security, and the creation of owned customer identity platforms.
Halstead said, “InfoSum recognised early on the need for new technology in data privacy. Now as the market leader in data collaboration, this investment from Chrysalis allows us to accelerate the development of our unique infrastructure and expand its innovative capabilities into new arenas.”
