infosum Secures $65M Series B Funding for Secure Data Sharing

InfoSum Secures $65 Million in Series B Funding

InfoSum, a startup headquartered in London specializing in decentralized, secure data sharing solutions for businesses, has successfully raised $65 million in a Series B funding round. Chrysalis Investments spearheaded this investment.

Recent Growth and Investment

This funding arrives less than a year following InfoSum’s closure of a $15.1 million Series A round. That previous round was jointly led by Upfront Ventures and IA Ventures.

Since the Series A, the data privacy-focused company has experienced a tripling of its revenue. Furthermore, its workforce has doubled in size, and the customer portfolio has expanded to include over 50 new clients.

Driving Factors and Platform Capabilities

Increased business emphasis on data privacy has significantly contributed to InfoSum’s growth. This shift is largely attributable to the widespread adoption of remote work and cloud-based collaborative tools prompted by the recent pandemic.

InfoSum’s core data collaboration platform utilizes patented technology. This allows for the connection of customer records across different organizations without the actual movement or sharing of the data itself.

The startup asserts that its platform addresses security concerns and ensures compliance with current privacy regulations, including GDPR.

InfoSum Bridge and Enhanced Functionality

Earlier this year, the launch of InfoSum Bridge further enhanced the platform’s capabilities. This new product is designed to substantially improve customer identity linking.

InfoSum Bridge connects advertising identifiers with the platform’s secure “bunkered” data sets. This facilitates more effective ad targeting based on first-party data.

Leadership Perspective

“A new era is dawning for the technology that allows companies to securely compare customer data, fueled by privacy-aware consumers and businesses prioritizing value and control,” stated Brian Lesser, Chairman and CEO of InfoSum.

“InfoSum is at the forefront of this movement. Organizations are actively seeking solutions to streamline data collaboration, and InfoSum is uniquely positioned to drive this progress.”

Future Plans and Expansion

The company anticipates “exponential growth” in 2021 as businesses increasingly adopt privacy-centric tools and software. The newly acquired funding will be allocated to accelerate hiring across all departments.

Expansion into new geographic regions and continued platform development are also key priorities.

Company History and Team

Nick Halstead, the founder of the big data startup DataSift, established InfoSum (originally known as CognitiveLogic) in 2015. His vision was to create a system for connecting global data without requiring data sharing.

Currently, InfoSum employs 80 individuals across its offices located in the U.S., the U.K., and Germany.