Privacy-focused tech companies are offering a variety of services, from personal data scrubbing to business-focused software meant to help companies comply with the law.
And the booming privacy sector even has its first unicorn, defined as a privately held startup with a valuation above $1 billion. OneTrust, based in Atlanta, wasby venture capitalists in a round of fundraising last summer. It sells software to help businesses know what data they have, evaluate their risks and disclose data to customers upon request.
“There’s a law that says you have to do something, and it’s too complicated to implement on your own,” Barday said.Ben Margot / AP “The services they are providing are tied to principles that we’ve seen across privacy laws, data protection laws,” Fennessy said. Other startups are focused on selling services directly to consumers, not corporate clients. The app Jumbo“There’s a fraction of people who think they’ve lost control of their data and their privacy. It’s become too complex, and we don’t know where the data’s going,” Jumbo CEO Pierre Valade said. The app, which centralizes privacy decisions in one place and says it doesn’t collect data, plans to announce a subscription plan in March.
“To be able to respond to these requests as an organization, you need to know the data you have, you need to know how that data links to that entity, and you need to know where the data is,” Iannopollo said.
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