CYTRIO collects $3.5m in seed funding to help SMEs handle data privacy

Data privacy compliance startup CYTRIO has collected $3.5m in seed funding, supporting its goal of helping mid-sized companies meet privacy compliance.

The round was supported by Dreamit Ventures, Food Retail Ventures and Rockwood Group. CYTRIO’s founding team also joined the round.

The RegTech company was founded to create data privacy compliance automated, simple and cost-effective for mid-sized enterprises. Its single all-in-one solution is built for privacy rights management and is powered by AI-powered data discovery and automated response workflows.

A study from Cisco claimed that 86% of people want care about data privacy and want more control of their personal information. Furthermore, 79% said they were willing to act to get that control.

CYTRIO founder and CEO Vijay Basani said, “Today, we launch CYTRIO to enable mid-size companies to comply with numerous privacy regulations, while building customers’ trust that is essential to thrive in today’s digital economy.

“Our mission to deliver an easy-to-deploy SaaS privacy rights management solution will help mid-market enterprises swiftly and cost-effectively comply with data privacy regulations with minimal resources. We are levelling the playing field for mid-sized enterprises to compete and thrive in the data-driven digital economy, where consumers have control of their private, personal information (PI).”

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