Collibra, a ‘data governance’ company that helps tech companies comply with data privacy laws, raised $100m at a valuation of more than $1B.
Tech giants used to play fast and loose with data. But after Sheriff GDPR rolled into town, tech companies started taking data protection more seriously — and Collibra has taken off.
GDP-R you listening now?!
When the GDPR went into effect last May, tech companies had to start disclosing data breaches to consumers (and alerting consumers to all data collection).
But for businesses like Google that collect mind-numbing amounts of user info, it’s been hard to kick the dirty data habit: Last week, France fined Google for $57m for failing to manage its data properly.
As steeper fines loom, tech companies are finally turning to data governance companies for help getting clean and compliant. In Collibra’s recent funding round, Google was a primary investor.
One company’s crisis is another company’s cash
Founded in 2008 on the heels of the financial crisis, Collibra got its start helping big banks clean up their financial data.
Today, Collibra and data governance competitors like Informatica, Adaptive Insights, and Okera are growing rapidly thanks to the GDPR.
Last year was Collibra’s best year ever. Collibra, which has 300+ clients in industries ranging from finance to tech, expects demand for data governance to grow in coming years.