Omnisient, a supplier of consumer privacy-protecting data collaboration platforms in emerging economies, has raised a $3.5 million round of expansion capital, with the help of Buffet Investments, KLT, and the Shoprite Group as the lead investors.
Along with early investors Investec and Nedbank, follow-on investors One5, ENL, and other investors participated in the oversubscribed expansion round.
With the help of bank-grade cryptography from Omnisient, businesses can analyze and profit from first-party datasets in a safe and neutral cloud environment while still protecting consumer privacy and guaranteeing compliance with international privacy legislation.
Because personally identifiable information is never disclosed or made public, businesses employing Omnisient can gain new insights into their own customers beyond their involvement with their brand or generate additional revenue through data monetization while maintaining customer privacy.
According to Jon Jacobson, co-founder, and CEO of Omnisient, “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.”
More than 60 companies are served by Omnisient, including four of the biggest retailers and five of the biggest banks on the continent.
The Omnisient platform complies with all applicable consumer privacy laws, such as the GDPR, POPIA, and California’s CCPA.
When it comes to expanding financial inclusion, Omnisient has been laser-focused on emerging markets.
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