Data collaboration platform provider, InfoSum, has announced a $65 million Series B funding financed by Chrysalis Investments. The round brings the total amount raised to $90 million since the company’s founding in 2016.
InfoSum plans to use the new funds to accelerate hiring across every aspect of the business, expand into new regions, and further the development of its platform. The company’s approach to customer data collaboration, called the ‘non-movement of data,’ has been validated by leading businesses increasingly focused on privacy, security, and the creation of owned customer identity platforms.
InfoSum’s core proposition is to offer power privacy-safe data collaboration that drives better customer experiences, connecting customer records between and amongst companies, without ever sharing data. This customizable, customer-centric approach enables companies to unlock the full potential of their data, delivering better business outcomes while prioritizing the privacy of consumers.
Brian Lesser, Chairman and CEO of InfoSum stated “The technology that enables companies to safely and securely compare customer data is thankfully entering a new phase, driven by privacy-conscious consumers and companies focused on value and control. InfoSum is proud to be leading the way.”
Nick Halstead, InfoSum Founder and CTO, added, “InfoSum recognized early on the need for new technology in data privacy. Now as the market leader in data collaboration, this investment from Chrysalis allows us to accelerate the development of our unique infrastructure and expand its innovative capabilities into new arenas.”
Richard Watts, Chrysalis Investments portfolio manager said, ‘InfoSum exhibits one of the fastest scale-up revenue streams we have come across in the software space, and, we believe, addresses a significant market opportunity in a digitalised world. We are delighted to be partnering with InfoSum and look forward to working with Brian Lesser, Nick Halstead, and the rest of the InfoSum team to deliver on the possibilities of the technology.”