~To Strengthen business development and talent acquisition efforts in response to rapid changes in the market. And with the aim of expanding into the market, through strategic capital alliance.~
Priv Tech, Inc. (Head office: Minato-ku, Tokyo; Representative Director: Daisuke Nakamichi; hereinafter "Priv Tech"), a leading company in the privacy tech field, is pleased to announce that it has raised 70 million yen in funding through a J-KISS share option issue targeting business companies and individual investors.
■Background of funding and future developments
After the enforcement of the Amendment of the Act on the Protection of Personal Information in April 2022, it became mandatory to obtain prior consent from users when acquiring external data through cookies and associating it with personal information. Additionally, in June this year, the Revised Telecommunications Business Act, also referred to as cookie regulations, was implemented. This has made it imperative for all companies incorporating the internet into their business to strongly emphasize the balance between utilizing personal data and protecting privacy.
While regulations are tightening, there is also an increase in cookie restrictions imposed by major vendors. In particular, Google has announced the phased discontinuation of support for 3rd Party cookies on the Chrome browser starting from the latter half of 2024. In the field of web marketing, there is an urgent need to consider and adopt new advertising methods that do not rely on 3rd Party cookies.
Given this background, the attention paid to the mechanisms of "privacy tech" and "cookieless advertising" that balance the use of personal data and the protection of privacy has extremely increased.
Since its establishment in 2020, Priv Tech has consistently supported companies' privacy measures. In response to this rapid change in the market, we have decided to raise funds to further strengthen and accelerate companies' offensive and defensive privacy measures.
With the funds raised this time, we will further strengthen business development and human resources recruitment for sales, marketing, customer success and so forth to accelerate support for companies' privacy measures.
In addition, We will conduct business development on the premise of business partnership.
Amount Raised: 70 million yen
Fundraising Method: J-KISS share option
Investors (in no particular order, honorifics omitted): Agaroot Co., Ltd., IID, Inc., Relic Inc., Lombard Co., Ltd., Individual Investors (multiple)
■Messages from Agaroot Co., Ltd.
"We are delighted to have the opportunity to connect with Priv Tech, a leading company in the field of privacy tech. The realm of personal data protection and privacy is a complex market with elements such as legal, IT, and global considerations intricately interwoven. However, Priv Tech has solidified its position in such a market, thanks to the exceptional leadership of Mr. Nakamichi and the rest of the management team.
We have been engaging in discussions with Priv Tech regarding business partnerships, primarily focusing on corporate training and company-wide training. Through this partnership, we anticipate that our group can offer even higher-value services."
Hokuto Iwasaki, CEO, Agaroot Co., Ltd.
■Messages from IID, Inc.
"At our company, we operate 79 media outlets spanning 21 genres, with a primary focus on digital media. As we navigate the landscape of media operations, the advancement of cookieless technologies and the increasing importance of privacy protection have become a significant theme. In this context, we are extremely pleased to have the opportunity to invest in Priv Tech, a company that offers solutions that will become indispensable in the future.We look forward to collaborating with Priv Tech on both, offensive and defensive front, in the field of privacy tech. "
Tsumoto Manabu, Executive Officer, Media Business Division, IID, Inc.
■Messages from Relic Inc.
"In the realm of 'Privacy Tech', which is becoming increasingly vital in various fields centered around digital marketing, we are honored to have the opportunity to invest in Priv Tech, a startup that combines a talented management team with extensive experience and knowledge, as well as outstanding products to achieve the balance between utilizing personal data and protecting privacy.
By leveraging Relic's top-notch track record and expertise in domestic new business development, we are excited about the prospect of co-creating ambitious endeavors with Priv Tech. Together, we aim to accelerate the growth of Japanese companies and strengthen both corporate and compliance aspects."
Takaaki Kitajima CEO | Founder, Relic Inc.
■Messages from Lombard Co., Ltd.
"Our advertising network is utilized by a diverse range of companies, and we recognize the growing importance of privacy in tandem with the evolution of the internet. We fully endorse Priv Tech's approach in this regard. Complying with the law and delivering highly transparent advertisements to users are priorities for our company as well. We eagerly anticipate the synergy that can be achieved through the expertise and solutions provided by Priv Tech."
Hiroyuki Takeshita, Director CTO, Lombard Co., Ltd.
■About Priv Tech's Services
Trust 360 Consent Management (https://privtech.co.jp/service/trust360/)
Trust 360 Consent Management is a one-stop Consent Management Platform (CMP) that provides everything from obtaining consent for cookie use and managing the acquisition status to integrating other systems based on the consent status.
Since its launch, the service has been used by many companies and the total number of licenses has exceeded 170. (As of July 31, 2023)
Trust 360 Telecommunications Business Act Compliance (https://service.privtech.co.jp/trust360/)
Trust 360 Telecommunications Business Act Compliance is a tool to comply with the external transmission rules of the Revised Telecommunications Business Act. It supports "Notification and publication of communication destinations.
Privacy Consulting (https://privtech.co.jp/service/privacy-consulting/)
Privacy Consulting Service provides a wide range of support services for companies that are aware of privacy issues, from free consultation to sharing necessary information, identifying issues for each company, and proposing the introduction of various solutions. We provide support not only for domestic laws, but also for overseas laws such as GDPR.
【Company Profile of Priv Tech】
Company Name： Priv Tech Inc.
Address: Atago Green Hills MORI Tower 34F, 2-5-1 Atago, Minato-ku, Tokyo
Establishment： March 2, 2020
Representative Director: Daisuke Nakamichi
Business： Providing services in the privacy technology field
Service: Trust 360 Consent management
Trust 360 Telecommunications Business Act Compliance
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