The Munich startup Usercentrics has secured a growth investment worth millions in a recent financing round. The lead investors are Cavalry Ventures and Reimann Investors. Several business angels are also participating.
Usercentrics claims to be the German market leader in the field of Consent Management Platforms (CMPs). Companies can use the platform to obtain, manage, and document user consent for the use of data-collecting web technologies such as cookies or pixels. This topic is particularly relevant in light of the European General Data Protection Regulation (GDPR) and the planned ePrivacy Regulation. The software is primarily aimed at large advertising companies, publishers, and agencies.
GDPR as an “opportunity for a better Internet”
Details on the exact amount of the multi-million investment are unknown. The money comes from investors Cavalry Ventures and Reimann Investors, as well as business angels Kai Seefeldt (Productsup), Axel Täubert (Google/DoubleClick), and Jens Lapinski (Angel Invest Ventures). Mischa Rürup, founder and CEO of Usercentrics, says:
"In the future, personal data will only be valuable with the user's consent. Therefore, Usercentrics GmbH supports companies in bringing the collection and processing of user data into line with the new legal situation and strengthened user rights. We are therefore all the more pleased that our investors, like our customers, view the GDPR as an opportunity for a better internet."
Founded in 2018, the company intends to use the new capital to accelerate the expansion of its core business and pursue expansion into new markets, including European countries and the US. As part of its growth strategy, Usercentrics will further expand its team of experts and hire new employees, primarily in the areas of IT, legal, sales, and marketing.
