Osano announces $11 million in new funding and launches AI-driven Data Discovery tool
Austin, Texas - September 22, 2021 - Osano, a leading provider of data privacy software for businesses, today announced the industry’s first “No fines, no penalties” pledge, ensuring customers will not pay fines or penalties related to the violation of privacy laws under GDPR, CCPA or LGPD. The company also announced $11 million in new funding led by Jump Capital, and introduced its AI-driven Data Discovery tool, enabling customers to easily and automatically find, classify and evaluate all data across any system.
“Data is at the heart of every business today and companies that show customers they take privacy seriously earn trust and loyalty,” said Sach Chitnis, co-founder and partner at Jump Capital. “We’re thrilled to lead this investment round and support the talented team at Osano, who in a short time have built industry-leading tools for companies to make their data an asset, rather than a liability.”
No Fines, No Penalties Pledge
Announced today, Osano is offering a “No fines, no penalties” pledge. Any customer who has implemented Osano is ensured they will not pay fines or penalties related to the violation of privacy laws under GDPR, CCPA or LGPD, up to $200,000. Osano is the only company in the data privacy category that stands behind its products with assurances to provide its customers peace of mind. To find out more about Osano’s “No fines, no penalties” pledge, visit https://www.osano.com/pledge.
The Era of Privacy First: Discover Where Your Data Lives
Understanding and mapping data is critical to complying with the assessment requirements of privacy laws, such as GDPR and CCPA. Data Discovery uses artificial intelligence to discover and classify personal and non-personal data, automate privacy rights fulfillment, demonstrate compliance and drive business value. Data Discovery is automatic, saving customers hundreds of hours with its automatic AI-driven classification of over 60 types of personal data, personally identifiable data (PII) and sensitive data.
Data Discovery is simple to use, with users typically set up and configured in less than an hour. The product allows users to easily connect Osano to databases and SaaS providers, such as Salesforce and MySQL. Data Discovery is available as both a SaaS offering, as well as a self-hosted Kubernetes container for use on-premise or behind the firewall. To find out more about Osano’s Data Discovery tool, visit https://www.osano.com/features/data-discovery.
“Most companies have data spread across hundreds or even thousands of systems. And the more complex an organization gets, the harder it is to understand and track the myriad of ways and systems in which potentially sensitive data gets collected and stored,” said Arlo Gilbert, founding CEO of Osano. “With Data Discovery, users can find, categorize and search for personal data, wherever it lives. We fervently believe in our product. That is why we are also launching the industry’s first-ever “No fines, no penalties” pledge. A customer using Osano will not risk the penalty of violating privacy laws —ever.”
11 Million in New Funding
Osano also announced today $11 million in new funding, bringing the company to a total of $22.3 million raised to date. The round was led by Jump Capital, with participation from TDF Ventures, as well as participation from existing investors LiveOak Ventures Partners and Next Coast Ventures. This latest funding will be allocated to expansion and doubling headcount over the next year, with an emphasis on sales to meet the exponential increase in product demand.
What Customers Are Saying
"Data Discovery is the cornerstone to managing an effective Privacy Program for any organization,” said Kevin Gorsline, VP of risk and compliance services at TBG Security. “If you don't understand what kind of data is being stored and processed — or where it resides within your organization -— all your efforts to meet compliance requirements like GDPR, CCPA and other privacy requirements will be for naught. With Osano’s Data Discovery tools, you stand a much better chance of identifying where each and every piece of data resides within your business, and will be better prepared to meet your regulatory and compliance requirements."
“Osano’s Data Discovery tools have helped my organization map and locate sensitive data,” said Mirriam Williams J.D., Sr. security and compliance specialist at Absolute Software. “With great customer support and vendor management tools, Data Discovery is a great complement to their existing features”
Supporting Resources
About Osano
Osano is an easy-to-use, complete data privacy platform that helps businesses to quickly become compliant with virtually all privacy legislation around the globe. Platform features include consent management, subject rights management, data discovery, and vendor risk monitoring. Its cookie consent management software is the most widely used in the world. More than 750k companies trust Osano to ensure more than 2.5 billion monthly visitors comply with data privacy legislation.