Who benefits from the new privacy companies?

On the occasion of the IAPP Global Privacy Summit, JDN is examining the opportunities created by a market that should weigh $ 3.2 billion by 2025.

While privacy technology solutions a few years ago were primarily aimed at legal advisors, times have changed. GDPR in Europe, the advent of the California Consumer Privacy Act, the entry into force in November 2021 of the Personal Data Protection Act in China, the Brazilian Data Protection Act … Faced with a number of new compliance requirements, but also with the proliferation of information held by companies, requests related to privacy have increased very sharply.

To meet this demand, new companies associated with this sector are emerging. According to the 2021 report by IAPP, the international association of privacy professionals, there are 356 companies worldwide that specialize exclusively in technology solutions for corporate privacy, up from 304 a year earlier.

In France, there are currently 329 privacy-related companies with players such as Accenture, Ernst & Young, Hewlett-Packard Enterprise, IBM Corporation, KPMG LLP, OneTrust along with thriving startups. The sector is therefore on the rise and offers very interesting prospects: according to Crunchbase, the market, estimated at $ 450 million in 2018, could reach $ 3.2 billion by 2025. But who are the players placed in this niche? Here is a typology.

Assessment leaders

Assessment leaders intervene when data processing can pose a strong risk to a person’s rights and freedoms. They help streamline the entire assessment process, record risks or produce compliance reports. This sector includes companies such as 2B Adviceoffering compliance and data protection management software, or Enterprivacy, which in particular presents a tool for calculating the risks associated with confidentiality. This company raised $ 200 million in 2020.

The consent managers

Consent administrators help organizations collect, track, or manage user consent. This management must make it possible to guarantee the company’s compliance with the rules on the protection of personal data. Note that for marketers, this activity is particularly important to guarantee the validity of the collection of consent. Among the actors involved in consent management, we find e.g. OneTrust, a leader in GDPR compliance software. In December 2020, the company announced a $ 300 million Series C financing. The deal then valued the company at $ 5.1 billion, making it one of the first unicorns in the privacy industry.

Data mining solutions

Data mining solutions help organizations determine data flows across the enterprise. As data mapping becomes increasingly difficult to implement manually, automated solutions are most preferred. Remember that data mapping is the process of compiling personal data in business systems. The inventory is called a data card. This needs to be updated to comply with data protection regulations, such as the GDPR. In this sector we find e.g. Security, specializing in AI-based data security. The company secured $ 50 million in Series B in January 2020.

Right of access solutions

Rights Solutions help organizations facilitate requests from individuals to exercise their data rights. These may include requests from a user to access, change or delete the personal information that a company has about them. This field includes actors such as Glowing privacy, data disguise Where Privacera.

Solutions for responding to privacy incidents

In order to identify fraudulent access, misuse or know the origin of a data leak, certain actions must be recorded on the computer systems. Privacy Incident response solutions help provide information about what has been compromised and the reporting obligations that need to be met in relation to that issue. We find in this area Proteus-Cyberoffering data protection management software, or Secuvya platform that enables fast management of data protection, security and management.

Personal data controllers

Privacy managers regularly provide organizations with automated information on the latest privacy laws around the world. Present especially in this industry, Compliance, Enactiaor the company Privitar. In April 2020, it obtained funding of $ 80 million.

Website analysis

Website analysis is a service that checks whether cookies, beacons and other trace elements installed on the website are in accordance with the various privacy laws and regulations. In this category there are BigID Where TrustArcwhich offers privacy management software.

Activity monitoring

Activity monitoring helps organizations determine which users have access to personal data. This privacy sector also makes it possible to know when the data is being consulted and processed. These solutions often come with controls in place to help manage user activity. In the sector we can e.g. mention clym Where clairvoyawhich offers a cloud-based data management platform.

Data discovery

Data discovery helps organizations determine and classify the types of personal data they hold. This way of efficiently detecting, classifying and correlating data is increasingly happening automatically. This allows companies to better manage the risks associated with privacy and compliance with various rules. Present in this field, the company WireWheel for example, raised $ 20 million in February 2021.

Anonymization and pseudonymization solutions

Anonymization and pseudonymization solutions allow scientists, researchers, or data researchers to extract information from a dataset without compromising the privacy of information about a person included in the dataset. It should be noted that anonymization makes it possible to prevent any identification of the person. Pseudonymity, on the other hand, denotes a masked state of identity. In this sector, Lighter AI provides image and video anonymization solutions based on deep learning. The CRM app Partnersin turn, in particular, makes it possible to anonymize the personal data contained in Microsoft Dynamics 365.

Business communication solutions

Business communication solutions help organizations communicate securely internally. The techniques used must prevent dangerous or compromising leaks from employee communication. Particularly present in this niche, Ethics launched in 2021 Fides, an open source descriptive language and toolkit for privacy. Fides makes it possible to describe privacy attributes in Git to facilitate risk assessment and establishment of rights.

Leave a Comment