Personal Data Start-up Digi.me Raises £4.2M in Series A Funding Round
LONDON, June 30, 2016
Digi.me, the pioneering start-up revolutionising how consumers and businesses harness the power of personal data, has secured £4.2m ($6.1m) from Series A funding led by global re-insurer Swiss Re.
With the new funds digi.me will accelerate the launch of its unique permissioned access platform, which will soon let users bring together wide-ranging data such as health and financial information and share it – if they wish – with businesses in exchange for personalised services, convenience or reward.
Businesses who are granted access to this 100% accurate, rich data can develop truly personalised services for their users, increasing both consumer trust and innovation.
Digi.me founder and chairman Julian Ranger said: “This is a watershed moment for digi.me and this investment enables us to make the Internet of Me available to everyone, consumers and businesses alike.
“This concept, which is better for the individual and also better for businesses who can access rich data with full user permission, while meeting all new data protection rules such as the GDPR, will allow digi.me to accelerate its activities with a number of multi-national companies who we are already working with, and bring further major businesses into our new ecosystem.”
Daniel Ryan, Head of Digital Analytics Catalysts at Swiss Re, said: “People want to be in control of their data, and many have strong views over what they are willing to share and what they want to keep private. We’re excited about digi.me because it will enable people to go one step further, and provide full transparency over how they can use their data to access services and benefits.”
Digi.me’s current version of the app, which gathers pictures and posts from the major social media networks, already has over 400,000 users in 140 countries. It proved that aggregating personal data streams achieves personal insight that is impossible to get when that data is scattered across the web.
With the digi.me app, users have their online life at their fingertips with tools including universal search across all platforms, daily flashbacks, the ability to create custom collections of content, data export and more.
Digi.me’s unique approach and technology also guarantees that all user data remains wholly private to the individual as digi.me doesn’t see, touch nor hold any of the personal data downloaded by the user.
The successful Series A funding builds on a very strong period of growth, including partnerships with Toshiba, Lenovo and Evernote and the appointment of Jim Pasquale as Executive Vice President North America.
Digi.me, which has now raised £7.1m ($10.2m) since launching in 2009, is on course to set up a ‘living lab’ that will be announced later this year.