PALO ALTO, Calif. –(BUSINESS WIRE)– CloudScale Capital Partners, LLC today announced that it participated in a $3.5 million round of financing in Trunomi, leading provider of customer consent and data rights and privacy software solutions. Trunomi, which is based in Bermuda and London, will use the financing to help manage the rapid increase in demand for its technologies and to continue its global expansion.
“Customer data rights and privacy are quickly becoming major issues of concern for companies, especially financial institutions, due to new regulations such as EU GDPR, U.K. Open Banking and marketing opportunities,” said Kim Perdikou, CloudScale Partner. “Trunomi enables businesses to comply with these new regulations by demonstrating compliance and accountability in customer data use and immutably proving the legal basis of processing. With Trunomi, businesses can empower their customers with control and transparency in how their data is used and turn regulation from a burden into a competitive advantage.”
“We are thrilled that CloudScale Capital Partners are part of this financing,” said Stuart Lacey, Trunomi’s CEO. “CloudScale brings significant strength to our investor base, and its partners bring with them a wealth of industry connections with the largest players in the global customer and data markets.”
Trunomi unlocks the power of customer data using consent and data rights. Trunomi provides customer consent and data rights management technology which enables businesses to request, receive, capture and prove the legal basis for processing customers data. Trunomi enables businesses to comply with EU GDPR & ePrivacy Regulation, global data privacy laws, automate compliance and replace inefficient and costly legacy approaches. Their patented platform is an enabler of the evolving personal information economy and provides key enabling technologies for a more flexible, transparent, empowered and customer-driven world.
CloudScale Capital Partners, LLC is a Silicon Valley-based, global Venture Capital firm that invests in early-growth stage opportunities in Cloud Computing and the Internet of Things (IoT). It backs disruptive companies solving the problems associated with mass scale.