Consent and preference management platform Didomi raises $40 million

Privacy. It's not something we think about on a daily basis; that is, until it’s invaded. But with so many legacy systems tracking just about every move we make, and the increasingly blurred line between online and offline behaviour, what’s a company to do? Well, the aim of Paris-based Didomi is to make privacy a whole lot easier. For everyone. The startup has raised $40 million which will help continue growth throughout Europe, as well as fuel expansion plans for the US market. To date, Didomi has raised $46 million. According to a European consumer survey, some 80 percent of consumers are taking note of privacy policies before pulling the trigger on a purchase, with roughly 66 percent of them modifying their decision based on what a company can and can not do with their personal data. The right to privacy isn’t just affecting Europe, as Garner predicts that by 2023, "65% of the world’s population will have its personal data covered under modern privacy regulations." Good news for us citizens and consumers, maybe not the greatest news for the bottom line of industries that have spent years tracking our every last sneeze. One doesn’t have to look far to notice which way the winds are blowing. GDPR in Europe and CCPA in California are just two prime examples. A trickle-down effect of these measures can be seen in the phasing out of third-party trackers that is underway at this very moment. Targeted advertising models are being dismantled, but don’t think they’re going away. They just need to be rethought. Reimagined. This is precisely where Didomi fits into our story. They’re already working with household name brands including Rakuten, UKG, Weight Watchers International, Giphy, and Wolters Kluwer to provide detailed analytics about consent behaviours via web, mobile, in-app, and smart TV environments. The output is simple: black and white data doesn’t lie. With Didomi generated figures in hand, brands can measure and optimise the benefits of reimagining how to view and work with consumer privacy. The startup’s Series B funding was led by Elephant and Breega. "Consent and preference management is becoming a must-have for global businesses, and Didomi is at the forefront of innovation in this market," commented Boston-based Elephant Partner's Peter Fallon. “This investment is a testament to Didomi's unique approach, differentiated technology, and the team's ability to execute. The company has grown rapidly and is well-positioned to continue scaling in the US and other international markets.”
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