TRUSTe, a company that provides privacy management options for the online and mobile market, raised $15 million in a Series C round led by Baseline Ventures to boost its technology platform.
Joined by existing investors Accel Partners, Jafco Ventures and DAG Ventures, the company also plans to use the funding to expand its global presence by addressing the increased data privacy challenges across the world. By simplifying privacy management for companies and its consumers, TRUSTe hopes to ensure safe online interaction for shoppers, advertisers and even users in the mobile realm.
“TRUSTe has a unique combination of robust technology, an innovative compliance methodology, and the most trusted and recognizable privacy brand through its pervasive online trustmark – enabling it to continuously deliver industry leading privacy management solutions,” said Steve Anderson, Baseline Ventures. “In less than one year, their TRUSTed Ads online advertising compliance solution has become the market leader in this fast growing segment.”
Best known for its work with known companies like eBay, Apple, Microsoft and over 4,500 others, TRUSTe anticipates its accelerated development with privacy technology will expand its connection to new online businesses.
Over the past 18 months, not only has the company tripled in sales, product offerings and employees, but it has also increased interest in investments for additional staff to support its growing need to address management for complex technology and complicated compliance agreements.
Chief Executive Chris Babel plans to speak in Chicago Jan. 24 about data collection and the concern with online privacy at the 2012 Privacy & Data Protection Town Hall.