Didomi closes a 5M€ round of Series A funding to develop its consent and preference management solutions
In less than 3 years, Didomi has become a key player in the consent and preference platform space, with prestigious international clients such as Newsweek, PeopleDoc (Ultimate Software) or Rakuten. This fundraising round will allow the Paris-based startup to triple its staff and revenue by the end of the current year, to develop its product offering and increase its international footprint.
Paris, June 4th 2020 - The management of consents and preferences is the most visible part of compliance with the GDPR, the European regulation that has profoundly transformed the relationship of consumers and businesses to personal data. It mainly results in increased control given to users throughout their online journey (consent to the deposit of cookies, subscription to newsletters, etc.).
Consumers, who are increasingly aware of the value of their personal data, are today awaiting great transparency from the brands they use on a daily basis. Beyond the information, they also expect to be able to freely give "permission" to use their data, and to be able to revoke it at any time.
As for companies, they are moving from a world where personalization was an implicit, established and sometimes opaque standard, to a world where the individual decides for himself what he does with his data. This paradigm shift not only destabilizes the advertising ecosystem, but also marketing departments, who want to understand the expectations of their customers in order to contact them on the right channel, at the right time.
Didomi supports its clients in this transformation with bespoke, scalable technical solutions, simple to implement and pleasant to use for internet users on all the screens that they use. Beyond improving transparency, they also improve business performance thanks to better consent and marketing engagement rates.
From its Paris offices, Didomi has already established itself as a leader in France and Spain, also serving customers in various European countries as well as the United States. Among more than 150 references, in many sectors and over 20 countries, Didomi's clients include PeopleDoc (Ultimate Software), Newsweek or WW (ex-Weight Watchers), Orange, Michelin, Groupe Pierre & Vacances Center Parcs, El Mundo or Rakuten.
This first funding, associating Breega and Bpifrance, has the primary objective of financing Didomi's growth in Europe and supporting its presence in the United States with the strengthening of its sales and marketing teams. It will also allow the company to invest in its product and technology to continue strengthening the Didomi platform, in particular in new environments (smart TV, connected speakers and connected cars) as well as new sectors (like health and gaming).
Didomi has always been committed to building a viable model, and we have historically funded ourselves through our customers. They are the first to thank for our rapid development. We are in a market that is rapidly concentrating and we want to have the means to achieve our ambitions. For 12 months, we have seen an exponential demand for user preference management solutions from major brands, and this leverage will be fully invested to meet this demand, to accelerate our deployment in key markets, and to launch new product offers.
Our vision for the Didomi platform is that of a complete personal data permissions management system that is the only solution for individuals to continue to trust organizations. For this to work, the Didomi platform must be the preferred solution for developers by facilitating their integration and offering them flexible and readable solutions on a subject that quickly becomes complex.
What attracted us about Didomi was the scope of their value proposition, which goes far beyond creating a solution of simply obtaining cookie consent of users on the internet. The vision is to offer a real Preference Center that Didomi deploys for its customers, allowing them to strengthen their customer relationship by placing consent at the heart of their marketing strategy. And what a team of founders! They are very complementary, which allows them to successfully tackle all the key stages of the hypergrowth that we foresee for Didomi.
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Didomi builds technology that allows organizations to place customer consent at the core of their strategy. By making consent and preferences easily accessible, companies benefit from compliant customer data while seeing higher engagement and increased user trust. Consumers, on their side, are free to choose what data to share and how to stay connected to their favorite brands across touchpoints. Our products include a globally adopted Consent Management Platform (CMP), which collects billions of consents every month, a highly popular Preference Management Platform (PMP), and a powerful suite of bespoke solutions to build better consent and preference management. Find out more at www.didomi.io.