Ethyca raises $4.2M to simplify GDPR compliance
GDPR, the European data privacy regulations, have been in effect for over a year, but it’s still a challenge for companies to comply. Ethyca, a New York City startup, has created a solution from the ground up to help customers adhere to the regulations, and today it announced a $4.2 million investment led by IA Ventures and Founder Collective.
Table Management, Sinai Ventures, Cheddar founder Jon Steinberg and Moat co-founder Jonah Goodhart also participated.
At its heart Ethyca is a data platform that helps companies discover sensitive data, then provides a mechanism for customers to see, edit or delete their data from the system. Finally, the solution enables companies to define who can see particular types of data across the organization to control access. All of these components are designed to help companies comply with GDPR regulations.
Company co-founder Cillian Kieran says that the automation component is key and should greatly reduce the complexity and cost associated with complying with GDPR rules. From his perspective, current solutions which involve either expensive consultants or solutions that require some manual intervention, don’t get companies all the way there.
“These solutions don’t actually solve the issue