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The Paris-based company plans to use the fresh injection of funds to open a new office and expand into the US market.
French data privacy and consent platform Didomi has raised $40m to expand further in the US.
The start-up builds a platform to help manage data consent and preferences, such as agreeing to cookies, to ensure companies stay on the right side of privacy rules.
Its tech is used to manage users’ consent behaviours and provide analytics on web, mobile and other devices. It counts Giphy and Rakuten among its clients.
The Series B round was led by Elephant VC and Breega. It brings Didomi’s total funding to date to $46m.
The new funds will be used to pursue more business in the US, and Didomi plans to open an office in the US soon.
Chief executive Romain Gauthier said the company’s mission is to “make privacy easier for everyone and an obvious choice for companies”.
“This fundraising is a major milestone on our journey to deliver on this mission. Not only does it reward the hard work of Didomi’s entire team, scattered across the globe, but it also gives us resources to keep building the best technology for our existing and upcoming clients,” he said.
“We look forward to helping brands and publishers make customer journeys more transparent and trustworthy through a delightful consent and preferences management experience.”
According to the company, consumers are paying more attention than ever to privacy when making a purchase online.
Citing figures from a recent survey, it said two-thirds of consumers change their purchasing decisions in line with companies’ privacy commitments.
“Didomi allows tech teams to easily embed consent into their apps and systems, lowering the cost of compliance and removing technical hurdles to invest in privacy, which is much needed across today’s markets,” CTO Jawad Stouli added.
This comes as regulations around privacy, data protection and consumer protection are tightening. GDPR is just one framework that companies must contend with and more jurisdictions are introducing a higher bar for companies to meet.
“Companies are now realising they need to take action,” Maximilien Bacot, managing partner at Breega, said. “What started as a pure compliance preoccupation, in the early days of GDPR in Europe and CCPA in California, has since become a global concern by companies of all sizes to foster trust through better permission management in the technology stack.”
