SAN FRANCISCO, July 19, 2022 (GLOBE NEWSWIRE) -- Umami, the world's fastest growing open-source and privacy-focused web analytics platform, today announced it has closed on a $1.5 million pre-seed funding round led by Race Capital. Umami intends to use the proceeds to accelerate its hiring process as the company continues to attract more marketers and developers to its next generation privacy-focused web analytics.
In the world of data ownership, privacy and general data protection regulation (GDPR), Umami is the most popular alternative to Google Analytics with over 4.6 million downloads from Github. Umami provides both a free self-hosted version as well as a cloud hosting solution that is faster, friendlier, and more cost-effective than alternative solutions. Umami is able to track detailed website activity such as session duration, pages per session and source of traffic without using cookies or collecting any personally identifiable information.
“Umami was founded with the belief that all users should own their analytics data," said Mike Cao, founder and CEO of Umami. “We want users to have access to quality analytics without the need to rely on and entrust their data with giant tech companies like Google. Our customers are those who want to measure the success of their product or website while respecting the privacy of their users.”
Founded by three brothers, Mike, Brian and Francis Cao, Umami was born from Mike’s frustration with using Google Analytics, which dominates the industry despite significant privacy concerns. Umami has grown into a very popular open-source project with more than 11,000 stars and 4.6 million downloads on Github.
“By year-end 2024, Gartner predicts that 75% of the world’s population will have personal data covered under modern privacy regulations. Using privacy-violating products such as Google Analytics will be a liability for enterprises and Umami is the only alternative to make sure all organizations are GDPR compliant," said Alfred Chuang, partner at Race Capital. "We are thrilled to support Mike, Brian and Francis in their journey."
With the expansion of privacy regulation efforts across dozens of jurisdictions in the next two years, many organizations will see the need to start their privacy program efforts now. Gartner predicts that large organizations’ average annual budget for privacy will exceed $2.5 million by 2024.
“We believe that open-source will become the de-facto standard for how data applications will be developed in the future. There needs to be implicit trust from users for the products they are using and open-source software provides that,” said Mike Cao, founder of Umami.
About Umami
Umami is the world's fastest-growing open-source, privacy-focused analytics with over 4.6 million downloads. Founded by Mike Cao, Umami’s mission is to bring analytics data ownership and control back to the world’s organization and it is the best alternative to Google Analytics.
About Race Capital
Race Capital is an early-stage venture capital fund focused on investing in exceptional founders, developers and entrepreneurs who are building market-transforming companies in the data, enterprise, software infrastructure, and fintech sectors in both Web2 and Web3. We are seed investors in Databricks, Solana, FTX, Agora.io, Zeet and other companies that are working to build the technology of tomorrow. For more information, visit https://race.capital/ or follow us @RaceCapital
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