February 23, 2017, Bellevue, WA – Today, Privacy Labs announces $4 million in seed funding led by Initialized Capital, with Lemnos Labs, Liquid 2 Ventures, CrunchFund and Fuel Capital also participating. Privacy Labs is developing products for individuals to take back their data and reclaim their privacy and security.
Founders Giri Sreenivas and Dirk Sigurdson previously founded Mobilisafe, a venture-backed company acquired by Rapid7 in 2012. They have spent their careers building hardware-based security products for the intelligence community and enterprises as well as developing consumer products used by hundreds of millions of people at companies like Lockheed Martin, Wave Systems and T-Mobile.
Notable angels Steve Jang, Lee Linden and Geoff Entress participated as well. Garry Tan, Initialized Capital Managing Partner, is joining the Privacy Labs board of directors. The investment will be used to hire engineering, marketing and design talent and bring an initial product to market. Current openings are listed at https://privacylabs.workable.com.
As mobile device usage has exploded, consumers have wanted ease and access to their data at their fingertips. Technology companies defaulted to centralized services running in the cloud as the easiest way to meet this need. As a result, consumers have unknowingly traded the privacy and security of their data for access to these free services. Subsequent leaks and reporting have made it clear that entrusting third parties with sensitive personal data opens consumers to the risk of hacking and government surveillance overreach.
“We are excited to have the support of great investors who have tremendous conviction about our vision. Consumers are becoming increasingly aware that by using cloud-based services, they are subjecting themselves to invasive advertising networks and troubling mass government surveillance. This has culminated in an overwhelming feeling of powerlessness and there is a strong desire for alternatives. I look forward to bringing our product to market to empower people to take back control of their data,” said Giri Sreenivas, CEO and co-founder of Privacy Labs.
“As engineers, designers, and product makers, we have a duty to create secure, private, and easy to use ways for people to communicate, store all their information, and own it completely. Technology cost curves, the rise of very powerful open source, and the core product/engineering expertise of the Privacy Labs team means we have a chance to create a world where free citizens have exactly that,” said Garry Tan, Managing Partner of Initialized Capital.
About Privacy Labs
Privacy Labs exists to help people be free, private and secure online. We are developing products and services that put users and the privacy and security of their data first. Privacy Labs was founded in 2016 by Giri Sreenivas and Dirk Sigurdson and is based out of Bellevue, Washington.
About Initialized Capital
Initialized Capital is a San Francisco-based early stage venture capital firm with over $160M in assets under management that has invested in companies including Coinbase, Flexport and Instacart.