Common Sense Privacy debuts software to help companies better assess and manage privacy regulatory risks.
Building on foundational IP from Common Sense Media, the nation's leading child advocacy nonprofit organization, the platform boasts the most extensive repository of privacy evaluations in the world.
The data privacy landscape is hurtling towards an inflection point.
More than ever, companies need tools to navigate increasingly complex privacy requirements.
In the United States, 13 states have passed their own privacy regulations, eight of them in 2023 alone.
Globally, 17 countries passed new privacy laws between February 2021 and March 2023, coinciding with record-breaking fines.
The new independent company recently closed on $5 million in a funding round led by venture studio AI Fund with additional investment from both Magnify Ventures and Morgan Stanley Next Level Fund.
Total funding of Common Sense Privacy since inception now stands at $6.2 million.
There are an estimated 5,000 new apps every day that need privacy labels for app store listing, and an estimated 252,000 new websites every day that must comply with consumer privacy regulations.
Tighter regulations, record fines, new app store requirements, and escalating consumer concerns have created an estimated current market opportunity of $11 billion.
Common Sense Privacy leverages generative AI with LLMs to scale privacy ratings.
This Cyber News was published on www.helpnetsecurity.com. Publication date: Wed, 13 Dec 2023 15:43:05 +0000