German Privacy Startup Usercentrics Announces EUR17 Million Series B Financing to Help Marketers address Global Data Privacy Challenges
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Munich (ots)
Usercentrics, the Munich-based leader in consent management solutions, secured EUR17 million ($20.6 million) in a Series B financing round led by premier technology growth equity US-investor Full In Partners. Existing investors AlstinCapital, Reimann Investors, and Cavalry Ventures also decided to participate in the round.
Usercentrics' software solution enables companies and website operators to obtain, manage and document the valid consent of their visitors for the event of an audit. This is crucial, as the EU-wide General Data Protection Regulation (GDPR) states that user consent is the most common legal basis for the use of web technologies for marketing and advertising purposes.
"Operating a data-driven marketing strategy in compliance with national and 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", stated Mischa Rürup, CEO and founder of Usercentrics.
Additional capital injection for the expansion and global growth strategy
Over the past 12 months, Usercentrics has experienced hypergrowth - quadrupling both annual recurring revenue and headcount. Almost half of the now 100 employees are developers. Chief Revenue Officer Juergen Weichert, who joined Usercentrics from Google in 2019, credits a growth strategy with the recent signing of brands such as Daimler Global, Porsche and Zalando.
"With GDPR, Europe has created a top export product that is now being adapted worldwide. Therefore, Usercentric's role as Europe's top export in the area of user consent also applies globally", says Lukas Bennemann, partner at Alstin Capital.
Dr. Ulrich Bergmoser, Managing Director at Reimann Investors states: "The company has demonstrated the impressive scalability of its Consent Management Platform in Europe. Thanks to its strategic approach, we believe that Usercentrics can be one of the few European players to win the important US market. We are delighted to accompany the company on this milestone".
"Usercentrics' growth to date demonstrates what is achievable when you combine an experienced team, product-market fit and outstanding execution. With Full In Partners supporting the business, the Usercentrics team gains access to exceptional market expertise and an international network, which will turn the expansion to the US market into a home run", says Stefan Walter, Managing Partner at Cavalry Ventures.
Next goal: US expansion
With the support of U.S. growth equity investor Full In Partners, the next phase for Usercentrics will be to increase its footprint in the North American market. As Data Privacy becomes deeper entrenched into everyday lives, it's clear that the Usercentrics team has built an important solution that will win the next wave.
"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", commented Elodie Dupuy, co-founder and Managing Director at Full In Partners.
About Usercentrics
About Full In Partners
About Alstin Capital
About Reimann Investors
About Cavalry Ventures
Contact:
Marion Weber, pr@usercentrics.com
Original content of: Usercentrics, transmitted by news aktuell