Munich Startup: When we last spoke, Usercentrics had 20 employees and was about to expand into the US. Now you have 200+ employees and are active in 180 countries. How did you achieve this goal?
Donna Dror, CEO Usercentrics: We’ve been incredibly fortunate. Our technology is very much a necessity globally, and we’ve been able to capitalize on that in a meaningful way. This growth was the result of a combination of factors. First, we focus on innovation – it has been at the heart of our company since day one. We invest heavily in research and development, and we are constantly pushing the boundaries of what is possible. By staying ahead of the curve in terms of technology and trends, we have been able to differentiate ourselves from our competitors and stay relevant in a rapidly changing market.
Second, strong talent – building a successful company requires strong talent at every level. Hiring, retaining and investing in the right people has been key to our success. Third, focus on customer satisfaction – at the end of the day, our success is driven by our ability to provide value to our customers.
We are obsessed with customer satisfaction, and we go above and beyond to meet their needs and exceed their expectations. Finally, we never rest on our laurels. We are constantly looking for ways to improve our products, processes, and operations. By continuously learning and iterating, we have been able to stay ahead of the curve and position ourselves for continued growth and success.
Usercentrics: “Funding from the right investors is always a challenge”
Munich Startup: What obstacles did you face along the way?
Donna Dror: Securing funding from the right investors is always a challenge. It’s not just about raising money, it’s about finding investors that are strategic partners, and have added value beyond money. We’ve been blessed to find the best investors, but it took time.
Aside from that, managing rapid growth is a complex, obstacle-filled process. As our company began to gain traction and acquire more customers, we had to quickly scale our operations and infrastructure to keep up with demand. This required careful planning and execution to ensure that we could continue to deliver high-quality products and services to our customers.
Munich Startup: How has your solution evolved?
Donna Dror: Our initial focus was on providing a solution for organizations to manage user consent for GDPR compliance. However, over time, our product has evolved to meet the changing needs of the market and our customers. One of the key ways our solution has evolved is by expanding the scope of our platform to cover various privacy regulations worldwide. We have added support for other privacy regulations, such as CCPA, LGPD, and others, enabling organizations to comply with multiple regulations using a single platform. We also added support for specific industry needs.
In addition, we have expanded our solution to cover not only website-based data collection but also data collection in mobile apps and other digital channels.
Improved User Experience
We have also continued to innovate and improve our platform’s user experience, making it more intuitive and user-friendly. Our solution now offers a range of features and tools that help organizations manage consent preferences more effectively, such as preference centers and customized consent workflows. We also have the richest and most flexible customisation options that allow an optimized consent experience and the best opt-in rates.
Our CMP has also evolved from tracker or cookie related consent to managing more general privacy preferences, so you can capture consent at any point where you capture data. This allows you to keep consent in a central place, from where it is communicated to all data and marketing applications. This helps to avoid complexity and risk from consent fragmentation.
Finally, we have enhanced our platform’s reporting and analytics capabilities, providing organizations with better insights into their user data collection practices and helping them make more informed decisions about their privacy compliance strategies.
Profitable by the end of the year
Munich Startup: What is your financial situation?
Donna Dror: As a private company, we don’t share financials. But I’m proud to say that we will become profitable by the end of the year. This is a key milestone for us as a company. And we’re very excited to be so close to achieving it.
Munich Startup: What role has the Munich ecosystem played in this journey so far?
Donna Dror: Munich is known for being one of the most dynamic startup hubs in Europe, with a thriving ecosystem that supports entrepreneurs and fosters innovation.
Access to a vast network
One of the biggest benefits of being part of the Munich ecosystem is access to a vast network of mentors, investors, and industry experts. Through various startup accelerators, incubators, and networking events, we have had the opportunity to connect with a wide range of individuals and organizations. They have provided invaluable guidance, support, and resources. Furthermore, the Munich ecosystem is characterized by a strong sense of collaboration and community. We have found that other startups and entrepreneurs in the area are eager to share their experiences and offer advice, creating a culture of knowledge-sharing and mutual support.
Munich Startup: What milestones are you working towards next?
Donna Dror: The two biggest ones are profitability (which I mentioned) and product diversity. We are working on expanding our offering, so that we can offer our customers more than “just” a CMP. We are looking forward to being an even more integral part of our customer’s compliance tech stack, allowing them to champion user privacy and enable their business to thrive.