economic

Edison Partners Invests in Data Privacy Firm

Anonos, a Colorado-based data privacy and enablement technology platform provider, has closed $12 million in new growth capital led by Princeton-based Edison Partners. Anonos will use the proceeds to accelerate adoption of its technology and platform that helps organizations achieve their data-driven goals while complying with data privacy regulations globally.

The Anonos Variant Twin® system creates non-identifying versions of personalized data that enables companies to use, combine and share data while complying with the EU GDPR, the CCPA, and proposed U.S. federal privacy laws. The company’s technology accomplishes this by digitizing privacy policies at the data element level to codify the enforcement and control over how organizations make use of personal data. Anonos calls this process Privacy Rights Management.

“Similar to how iTunes and Netflix on behalf of publishers use Digital Rights Management to control use of music and movies, Privacy Rights Management introduces businesses to data protection by design and by default to control the use and sharing of personal data,” said Anonos co-founder and CEO Gary LaFever. “At this pivotal time when policymakers and businesses have an opportunity to establish a shared ethical framework for data privacy, Anonos supplies the missing technological ingredient of digital controls that ensure lawful, ethical and sustainable data use, sharing and combination.”

“With Anonos, we’ve reconciled the fundamental tension between data privacy and data value. Business leaders, data scientists and data privacy leaders who have historically faced the either-or choice of being compliant or having highly accurate data available for decision-making can now have both,” said Anonos co-founder and President Ted Myerson. “We’re thrilled to have Edison Partners’ and Partner Daniel Herscovici backing Anonos as we expand the availability of our platform globally to foster data-driven innovation in a privacy-respectful way.”

“Business partners for 18 years, Gary and Ted develop technology that helps organizations turn regulation into a competitive advantage. They have operational expertise developing global businesses, the vision and experience of  building complex platforms in response to marketplace trends that they anticipate years ahead of everyone else,” said Daniel Herscovici, Partner at Edison Partners who led the investment. “We’re excited to partner with Anonos to help them accelerate expansion of their technology platform across financial, healthcare, telecom and other data-driven industries that rely on sustainable and ethical consumer data use and insights to innovate.”

Headquartered in Boulder, Colorado with operations in New York and London, Anonos sells direct and through strategic partnerships. Anonos’ technology has been issued seven patents and 70-plus additional patents are pending.

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