Jumbo Privacy, a French-founded B2C privacy and security startup, has raised an $8 million Series A round led by Balderton Capital. The company has also announced two premium subscription plans, Jumbo Plus and Jumbo Pro, to monetise the service without monetising user data. “Our vision for Jumbo is to give you back control of your privacy, protect your sensitive data that is stored online on the major apps and websites, and ultimately give you greater peace of mind,” explains CEO Pierre Valade. “We plan on turning a profit from Jumbo Plus and Jumbo Pro. Our customers have already shown us that they are willing to pay for the additional privacy features our team will keep building, and – most importantly – to help us build a company that will never sell our users’ data.”
In a further move to make privacy more accessible, Jumbo is giving users the choice of how much to pay for the premium services, with a “pay what you think is fair” pricing option. The app is currently available in English, French and German. Balderton Capital partner Bernard Liautaud commented: "For all of technology's many benefits, it is increasingly apparent that issues surrounding data privacy are only set to rise and become even more complicated. Most people have no idea what is happening to their private information online or how to manage it. Jumbo Privacy's incredibly user-friendly tools strip away the complexity of managing your personal data.”
Since launching in 2019, the company was already named one of the “Most Innovative Companies of 2020” by Fast Company, and the team has grown to 21 people who work full time in the New York City headquarters. In a press release, the startup says the fresh funding will be “used to support the team as they continue building tools to protect its users’ privacy and work towards being a profitable, independent company”.