South African Data Collaboration Startup, Omnisient Secures $3.5 Million in Funding
With the aid of Buffet Investments, KLT, and the Shoprite Group as the lead investors, Omnisient, a provider of consumer privacy-protecting data collaboration platforms in emerging markets, has raised a $3.5 million round of expansion financing.
The expansion round was oversubscribed, and more investors joined original investors Investec and Nedbank, as well as follow-on investors One5, ENL, and others.
Businesses can analyze and profit from first-party datasets in a secure and neutral cloud environment with the help of bank-grade cryptography from Omnisient, while still safeguarding customer privacy and ensuring compliance with global privacy laws.
Businesses using Omnisient can acquire fresh insights about their own customers beyond their interaction with their brand or make additional money through data monetization while respecting customer privacy because personally identifiable information is never released or made public.
“This round of investment will be used to support our continued geographic expansion, as well as the ongoing development of our platform into the world’s leading source of consumer intelligence that fully complies with global consumer privacy regulations,” says Jon Jacobson, co-founder and CEO of Omnisient.
Omnisient provides services to more than 60 businesses, including five of the largest banks and four of the largest retailers on the continent.
The GDPR, POPIA, and California’s CCPA are just a few examples of the consumer privacy legislation that the Omnisient platform complies with.
In order to increase financial inclusion, Omnisient has concentrated only on developing nations.
