Existing investors Alstin Capital, Reimann Investors, and Cavalry Ventures also participated in the round - the startup scored a couple of millions in funding last year.
Usercentrics’ software solution basically enables companies and website operators to obtain, manage and document the valid consent of their website visitors and app users, for the event of an audit.
In these GDPR times that we are living in, Usercentrics says it has experienced "hypergrowth" – quadrupling both annual recurring revenue and headcount in the past 12 months.
Mischa Rürup, founder and CEO of Usercentrics, said: "Operating a data-driven marketing strategy in compliance with international data privacy law presents a major challenge to most businesses. AI and Machine Learning models require a lot of data, and obtaining this data requires users consent. Informed consent must be given freely, in granular detail and prior to loading marketing technologies. Usercentrics is currently processing over a billion consents per day for leading enterprises. We firmly believe the strategic support of our investors and this injection of capital will propel us to become global leaders in the areas of Consent and Preference Management."
The company is now focused on expanding its business in the US.
Elodie Dupuy, co-founder and MD of the lead investor in this round, Full In Partners, said: "In the U.S., data protection is regulated on the state level, which makes implementation much more complex than in Europe. We believe that Usercentrics’ flexible and adaptable solution is exactly what is needed here in the market and look forward to working closely with them."