DataGrail Raises $30M Series B for Privacy Regulation Compliance

DataGrail Secures $30 Million in Series B Funding

DataGrail, a company specializing in data discovery and privacy compliance, has announced the successful completion of a $30 million Series B funding round.

Investment Details

Felicis Ventures spearheaded the investment, with additional participation from Basis Set Ventures, Operator Collective, and existing investors.

Notably, strategic investments were also made by prominent companies including HubSpot, Okta, and Next47, the venture capital firm supported by Siemens. According to Crunchbase, the total funding raised by DataGrail now exceeds $39 million.

Addressing the Growing Need for Data Privacy

This substantial investment reflects the increasing importance of data privacy regulations. DataGrail assists organizations in locating their data across various systems.

The platform then facilitates adherence to crucial privacy laws such as GDPR, CCPA, and related legislation.

Automated Data Discovery and Integration

“DataGrail represents the first truly integrated solution, boasting over 900 integrations – a significant increase from the 180 available in 2019 – with diverse applications and infrastructure platforms,” explained Daniel Barber, CEO and co-founder of the company.

This capability allows the product to automatically identify newly added applications and infrastructure, performing data discovery across these platforms.

Consequently, users can pinpoint customer data regardless of its location and effectively manage and safeguard it in accordance with legal obligations.

Investor Perspectives

Victoria Treyger, general partner at Felicis Ventures, highlighted her personal experience implementing GDPR regulations as a key factor in her firm’s investment decision.

She emphasized that her firm prioritizes startups operating in substantial markets where their offerings are essential, rather than merely optional, and believes DataGrail exemplifies this criteria.

“Privacy management presents a complex challenge, and it’s a non-negotiable requirement for businesses,” Treyger stated. “Organizations must address privacy requests, either through manual processes or with a solution like DataGrail.”

Strategic Alignment with HubSpot

Andrew Lindsay, SVP of corporate and business development at HubSpot, confirmed that his company is both a customer and an investor in DataGrail.

He explained that DataGrail is proving invaluable in helping HubSpot’s clients navigate the intricacies of privacy regulations.

“DataGrail’s unique ecosystem approach, centered around integration with key SaaS and business applications, provides a streamlined method for many of our shared customers to protect their customers’ privacy,” Lindsay added.

Company Growth and Diversity

Currently, DataGrail employs 40 individuals and intends to expand its team to 90-100 employees by year-end.

Furthermore, the addition of Victoria Treyger to the Board of Directors, joining three other women, demonstrates a noteworthy commitment to gender diversity at the leadership level, which is uncommon among startups.