Thanks to California’s privacy law, one company’s pain is another’s gain

Companies are expected to pay $55B on compliance with the new CCPA law, and a number of startups are now positioning themselves to be on the receiving end of all the compliance cash.

As companies scramble to ensure they’re in compliance with the California Consumer Privacy Act, a surge of startups is hoping to cash in on data solutions.

Thanks to California’s privacy law, one company’s pain is another’s gain

It’s a California Gold Rush redux

Companies meeting certain criteria are expected to spend a collective $55B making sure they meet the new rules, and it’s estimated that more than 200 companies and consultants are already pitching products and services. For example:

  • TerraTrue built a privacy platform allowing companies to better corral customer data and automate compliance with myriad laws. 
  • DataFleets offers machine-learning tools that limit the likelihood of leaking consumers’ private info. 

And the market could get bigger

California isn’t the only actor regulating how companies use consumer data. The European Union’s General Data Protection Regulation, implemented in 2018, protects its citizens’ personal information.

And there could be additional legislation coming from:

  • The UK, post-Brexit 
  • New York and Washington states
  • India
  • Your US Congress

This potential mishmash of laws could prove complicated, which would mean more business for those who know how to navigate it.

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