Trunomi, which is based in Bermuda and London, will use the financing to help manage the rapid increase in demand for its technologies and to continue its global expansion.

“Customer data rights and privacy are quickly becoming major issues of concern for companies, especially financial institutions, due to new regulations such as EU GDPR, U.K. Open Banking and marketing opportunities,” said Kim Perdikou, CloudScale Partner. "Trunomi enables businesses to comply with these new regulations by demonstrating compliance and accountability in customer data use and immutably proving the legal basis of processing. With Trunomi, businesses can empower their customers with control and transparency in how their data is used and turn regulation from a burden into a competitive advantage.”

“We are thrilled that CloudScale Capital Partners are part of this financing,” said Stuart Lacey, Trunomi’s CEO. “CloudScale brings significant strength to our investor base, and its partners bring with them a wealth of industry connections with the largest players in the global customer and data markets.”