Privado may be the next big software provider as it helps tech companies avoid hefty fines by checking privacy issues in their codes.
With giants like Facebook, Google, Twitter, and many others experiencing a downturn in ads due to changing privacy laws, companies must get ahead of the problem. However, several new regulations are going up, making it slightly more challenging to track where they default.
This explains why hefty fines have found their way to these firms’ laps. And while the amount is insignificant compared to how much they make, it could still be a problem. This is where Privado comes in.
The company helps other tech service providers stay on the right side of the law. “…to comply with with any of the privacy laws, the first step is to get visibility into how personal data is being collected, used and shared across thousands of apps and services (Netflix famously has over 1,000 services) powering a tech company,” the founders told TechCrunch. “Even if companies achieve this mammoth of a task, realistically, it is close to impossible to continue having visibility when code changes take place every week.”
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They correctly describe themselves as Grammarly for code. The company has a free tool for Android developers that generates Play Store data safety reports to guide them while building apps.
It sets itself apart from other privacy tech companies because its tools are automated and able to keep up. “Current tools fall short because they sit outside of the development lifecycle where decisions on data collection, use and sharing are made,” it explains.
To do better, Privado connects with source code management tools like GitHub and is able to monitor data usage, identify data flows, and alert developers of privacy issues, such as excessive user privileges, data leakages to logs, and more.
On August 25, the company raised $14 million in Series A funding and planned to increase its team to 25 people and build an open-source community. It is currently making revenue and prices its service by how many code repositories or products it scans and monitors for clients.
Privado already has Here.com, Thrasio, and Zego among its clients.
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