The need for Privacy Enhancing Technologies has created a new tech and data industry, which we are calling "PrivacyTech". Leading PrivacyTech businesses are now receiving considerable financial investments, to support their continued growth and expansion, reflecting the vast size and scale of the addressable markets for PETs.
In our recent webinar a panel of data privacy and equity investment experts explained the operational and legal cases for PrivacyTech and the deployment of PETs; the fundraising options that are available for PrivacyTech businesses; and the lessons learned along the way to obtaining investment and scaling the business.
The panel included:
- Jason du Preez, CEO of Privitar, one of the world's leading providers of enterprize data privacy software
- Stewart Room, Global Head of Data Protection and Cyber Security at DWF
- Chris Baker, Investment Directorat LDC, the Private Equity arm of Lloyds Banking Group
- Justin Edgar, Technology Deals Leader at DWF
Operational good practice for compliance with data protection and privacy laws has always required the holders and users of personal information to evaluate the extent to which "Privacy Enhancing Technologies" (or "PETs") can be deployed in order to achieve desired outcomes, such as data minimisation, accuracy and security, and the fulfilment of individual rights, such as the right of access and the right to be forgotten.
These requirements oblige organisations to go much further than the deployment of paper solutions, such as policies, procedures and contracts: instead, we need to go on "The Journey to Code", to ensure that the desired outcomes are delivered in technology and data themselves.
If you would like to discuss the topic of PrivacyTech in more detail, please get in touch with Stewart Room.