Privacy4Cars announced that it closed a Series A investment. The round was led by First Move Capital (FM Capital) with additional investment from Automotive Ventures. This marks the first institutional investors’ fundraise effort for Privacy4Cars, which has quickly become the industry standard for vehicle data deletion.
Developed by a world-renowned cybersecurity and vehicle privacy expert, Privacy4Cars offers a standard process that makes data deletion simple and scalable. Its mission, Driving Privacy, means offering a suite of services to expand protections for individuals and companies alike, by focusing on privacy, safety, security and compliance. In the past six months, Privacy4Cars has expanded its presence beyond the United States and into the global market with major distribution deals across Canada, the United Kingdom, Middle East, Australia, New Zealand and India.
“We recognized very early on that personal information would be a rising compliance and reputation risk for automotive businesses across the globe, and worked tirelessly to create a simple, scalable solution for businesses looking to meet current regulatory requirements and protect their customers,” said Andrea Amico, Privacy4Cars founder and CEO. “Closing this funding round with FM Capital and Automotive Ventures is a pivotal moment for the business as it will allow us to keep up with demand, scale solutions for our newest partners across the globe, and generate more groundbreaking tools to further protect all consumers that operate a vehicle.”
The funding will be allocated toward increasing Privacy4Cars’ service and platform offering, supporting its innovative research and IP, attracting key talent and keep fueling growth domestically and internationally.
“PII will continue to be a hot-button topic in the automotive industry, especially as lawsuits become more prevalent,” said Chase Fraser, managing partner, FM Capital. “Privacy4Cars has created a solution that will soon be mandatory for retail automotive, auctions and the vehicle rental space.”