Didomi plans to use the funds to expand further into the US. Here are the top-line bullets you need to know.
Didomi, a data consent and preferences management solution platform, has raised $40.1M in a Series B funding round. The round drew participation from Breega Capital and Elephant Venture Capital.
HOW’S THE COMPANY PERFORMING?
- France-based Didomi builds a platform to help companies collect, store, and manage data consent and preferences such as agreeing to cookies. It provides analytics on the web, mobile, apps, and connected TVs.
- The company’s clients include major enterprises, including Rakuten, Orange, Ultimate Software, Weight Watchers International, and Adevinta.
- Didomi integrates through SDKs, APIs, and connectors for Adobe, Salesforce Marketing Cloud, Google, and HubSpot.
- The company is deployed across 160,000 websites and apps and it collects data consent from over 2B devices every quarter.
WHY DOES THE MARKET MATTER?
- The consent management market is projected to grow at a CAGR of 19.3% to reach a value of $765M by 2025, according to Markets and Markets.
- Growing consumer concern about privacy, rising cyberattacks, the gradual decline of third-party trackers, and the lack of data availability without permission have all boosted industry growth.