ALLOW secures £1.6m investment from Arts Alliance
Information protection firm will use funds to promote new product range
UK data protection firm ALLOW announced last Monday that they had raised £1.6m in second round funding from technology-focused venture capital group Arts Alliance.
The funding will be used to promote the firm’s new product, ‘ALLOW Protect’, a software package which promises a comprehensive security solution for online users. The ALLOW website was launched in December 2010 by Justin Basini, a former European VP of Marketing for credit card issuer Capital One. The business offers a range of data protection services for consumers, including identity theft protection and junk mail blocking, and since launch it has attracted around 10,000 members. Founder and CEO Basini said of the deal: “We firmly believe that the personal data industry is fast becoming a minefield for consumers and the issue of privacy an increasing source of irritation for millions of people. We’re here to solve that problem, and be on consumers’ side when it comes to the battle for their data. We’re delighted that Arts Alliance shares our vision and this funding will now allow us to make a major impact on the nascent personal data industry.”