Osano, a data privacy platform that helps websites become compliant with international regulations, today announced that it closed a $11 million funding round led by Jump Capital, bringing its total raised to $22.3 million. The company says that the money will be used to support international expansion as well as hire additional sales, marketing, and engineering staff.
Compliance remains a major challenge for enterprises. Businesses in the U.S. on average spent $10,000 per employee on regulatory costs, according to a report from the Competitive Enterprise Institute. Moreover, one whitepaper found that spending on incident response has almost doubled since 2011 as organizations aim to combat a record number of data breaches.