Privacy-Tech company Smarter Contracts secures funding at a post- money valuation of £32.2 million
Smarter Contracts, the company behind the next generation consent management platform Pulse, has secured a £249,464 equity investment giving the company a post money valuation of £32.2 million.
The Pulse platform has been designed and built by Smarter Contracts using their own patent-pending technology. Utilising blockchain and machine learning, Pulse has been designed to provide individuals and businesses with greater security, control, and transparency over how their data is being used and the legal basis which it is being processed, all in real-time.
will be used to grow the team, to further develop the unique features and functionality of the Pulse platform and
to expand their user experience design patents to cover North America and Canada.
Wayne Lloyd, CEO of Smarter Contracts comments,
“Over two years ago we recognised that societies trust in the digital world was becoming increasingly fragile. This placed open data initiatives at risk, given that these initiatives will require society to trust the process of sharing their data if they are to flourish in the way we need them to. That trust can only be built; however, if businesses integrate solutions that allow their customers to have complete control over how and where their data is used.
“This view is supported by our independent research which found 80% of respondents wanted to manage their data in the same way they manage money, while 78% told us they valued data privacy over customer experience. These types of statistics demonstrate societies growing demand for greater privacy, which we believe will fuel the demand for businesses to provide greater trust tooling. Pulse has been built to help businesses meet these demands.
It’s a very exciting time for everyone involved in Smarter Contracts and we’re looking forward to sharing our progress in the coming months.”
The investment represents a strong vote of confidence in the company and recognises Smarter Contract’s high growth prospects. In the first two quarters of 2021, more customers had signed up to use the Pulse platform than Smarter Contracts had accounted to do so by the end of 2022, delivering record revenues. The investment will be used to grow the team, to further develop the unique features and functionality of the Pulse platform and to expand their user experience design patents to cover North America and Canada.
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About Smarter Contracts
Smarter Contracts is an independent UK based privacy technology company, founded in 2019 by Wayne Lloyd. Their mission is to provide individuals and businesses with the tools they need to manage their data in the same way they manage their money. The Smarter Contracts team have designed, built and developed their own patent-pending consent and data rights management platform – Pulse.