CYTRIO is a tech startup that has developed a new software solution to help business owners and customers alike to control and, if they desire, delete their data after visiting specific websites. The tech company recently announced new seed funding to help expand business operations and grow its current customer base.
How CYTRIO Makes a Difference and Growing Business
Tech startup CYTRIO offers a path to data privacy and control specifically tailored to owners of small to mid-sized businesses. Prior to CYTRIO, most data privacy services were built to work for a large company that could handle a long-time frame for return on investment with a dedicated privacy team to manage the software solution. The tech startup works better for the owner of a small to mid-sized business due to its ability to automate several portions of its service.
For business owners who use their website as a source of ecommerce or public communication, the tech startup automatically messages customers or visitors on the website. At that time, the software informs them that their personal data has been collected. From there, the customer has complete control over the data and the company provides the option to access or delete it.
The use of automation by the tech startup allows the software solution to be far more affordable to small and mid-sized business owners. The company’s software solution requires no additional support from other staff members. Instead, it can be easily integrated into any basic website layout.
CYTRIO has launched its software solution at a time when demand for increased privacy online has never been higher. According to a poll by technology company Cisco, 86% of people want more control over their personal data online, with 79% willing to take active steps to make that happen.
CYTRIO Funding Round and Next Steps
In its Seed funding round, CYTRIO raised $3.5 million in capital. The funding round saw participation from Dreamit Ventures, Food Retail Ventures, Rockwood Group, and several individual investors, including members of its own founding team. These members include CEO Vijay Basani, Chief Privacy Officer Pankaj Parekh, and Chief Technology Officer Darshan Joshi.
The new funding will help the tech startup to continue to invest in its own software solution. Additionally, the newly raised capital will help the company expand its own business by taking on new partners who will personally use the solution for their own website or become certified resellers.
When commenting on the latest funding round and CYTRIO’s mission statement, CEO of the company Vijay Basani said, “Today, we launch CYTRIO to enable mid-size companies to comply with numerous privacy regulations, while building customers’ trust that is essential to thrive in today’s digital economy. Our mission to deliver an easy-to-deploy SaaS privacy rights management solution will help mid-market enterprises swiftly and cost-effectively comply with data privacy regulations with minimal resources. We are leveling the playing field for mid-sized enterprises to compete and thrive in the data-driven digital economy, where consumers have control of their private, personal information (PI).”
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.