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Data Privacy Software Vendor DataGrail Raises $30 Million in Series B Funding

March 11, 2021

DataGrail, a data privacy management software company founded in 2018, raised $30 million in a Series B funding round. This follows their Series A round of $5.2 million in July 2019. DataGrail’s leading investors include Felicis Ventures, Cloud Apps Capital Partners, Operator Collective, HubSpot, Okta Ventures, Next47, Basic Set Ventures, and American Express Ventures.

DataGrail focuses on prebuilt integrations

To enable their customers to build scalable, automated privacy programs to comply with global privacy regulations such as GDPR, CCPA, CPRA, and LGPD, DataGrail automates sensitive data discovery through prebuilt integrations with over 900 popular B2B apps and infrastructure providers. These integrations allow customers not only to find sensitive customer information within sanctioned business applications but also within unsanctioned shadow IT often used by company employees without the company’s knowledge or permission.

DataGrail is a High Performer in G2’s Data Privacy Management category

DataGrail is listed in G2’s Data Privacy Management software category as a High Performer, earning badges as Easiest to do Business With and Fastest ROI in G2’s Winter 2021 report for the Data Privacy Management software category.

G2 badges for High Performer, Easiest to do Business With, and Fastest ROI, in the Winter 2021 reports

G2 scores products and sellers based on reviews gathered from our user community, as well as data aggregated from online sources and social networks. On the G2 Grid which shows up-to-date, live rankings for data privacy management solutions based on user reviews, DataGrail continues to be listed as a High Performer.

 

On the G2’s Momentum Grid for Data Privacy Management software, which identifies products that are on a high growth trajectory based on user satisfaction scores, employee growth, and digital presence, DataGrail moves closer to the upper right quadrant, where another data privacy product, OneTrust, is listed as a Momentum Leader.

G2’s Momentum GridⓇ for Data Privacy Management SoftwareG2 Grid® for Data Privacy Management Software

Further information on the methodology for G2’s Grid rankings, is available on the G2’s scoring methodology page.

Directing investment dollars into more R&D

When asked what the company plans to use the $30 million investment for, DataGrail’s CEO & co-founder, Daniel Barber, said, "We will continue to invest in R&D, with plans to expand internationally. 70% of our customers were not satisfied by the first generation of privacy vendors, and have either waited to purchase, or developed programs in-house and found the internal resources to be exhaustive." 

Additional investments in R&D check out. In G2’s 2021 Digital Trends series, I predicted that the next-generation of data privacy technology providers would invest further in people-centric technology solutions to enable businesses to honor individual people’s choices regarding what information the company holds on them. Having robust sensitive customer data discovery will allow businesses to meet their obligations in accordance with various data privacy laws when processing data subject rights requests.

Disclaimer: I am not a lawyer and am not offering legal advice. If you have legal questions, consult a licensed attorney.

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