Personal NEXT Company Profile

Background

Overview

Personal NEXT is a technology-driven company specializing in personal data management and identity solutions. The company focuses on empowering individuals to control, manage, and utilize their personal data securely and efficiently. By providing tools and platforms that prioritize user privacy and data sovereignty, Personal NEXT aims to revolutionize the way individuals interact with their personal information in the digital age.

Mission and Vision

Personal NEXT's mission is to enable individuals to take full control of their personal data, ensuring privacy, security, and ease of access. The company's vision is to create a world where personal data is managed by individuals themselves, fostering trust and transparency in digital interactions.

Primary Area of Focus

The company's primary focus is on developing innovative solutions for personal data management, including secure data storage, data sharing, and identity verification. These solutions are designed to empower users to manage their personal information with confidence and control.

Industry Significance

In an era where data breaches and privacy concerns are prevalent, Personal NEXT plays a crucial role in advocating for user-centric data management practices. By offering tools that prioritize user privacy and data sovereignty, the company contributes to the broader movement towards more secure and transparent digital ecosystems.

Key Strategic Focus

Core Objectives

User Empowerment: Provide individuals with the tools and knowledge to manage their personal data effectively.

Privacy and Security: Ensure that all data management solutions adhere to the highest standards of privacy and security.

Innovation: Continuously develop and integrate cutting-edge technologies to enhance data management capabilities.

Specific Areas of Specialization

Secure Data Storage: Developing encrypted storage solutions that allow users to store their personal data safely.

Data Sharing Mechanisms: Creating platforms that enable users to share their data selectively and securely.

Identity Verification: Implementing systems that allow users to verify their identity without compromising personal information.

Key Technologies Utilized

Blockchain: Utilized for creating immutable records of data transactions, enhancing transparency and trust.

End-to-End Encryption: Ensures that data is encrypted during storage and transmission, protecting it from unauthorized access.

Artificial Intelligence: Employed to analyze data usage patterns and provide personalized data management recommendations.

Primary Markets or Conditions Targeted

Personal NEXT primarily targets individuals seeking greater control over their personal data, as well as organizations that prioritize user privacy and data security. The company's solutions are applicable across various sectors, including healthcare, finance, and e-commerce, where personal data management is critical.

Financials and Funding

Funding History

Personal NEXT has secured funding from various investors to support its growth and development. The company has raised a total of $30 million, with notable investors including Steve Case's Revolution Ventures, Grotech Ventures, Allen & Company, Ted Leonsis, Neil Ashe, Jonathan Miller, Bill Miller of Legg Mason, Esther Dyson of EDventures, and Eric C.

Recent Funding Rounds

Series E Funding (December 2016): Raised $25 million from IGM Financial, bringing the total funding to $75 million.

Intended Utilization of Capital

The capital raised is intended to:

Product Development: Enhance existing data management solutions and develop new features.

Market Expansion: Increase the company's presence in key markets and explore new opportunities.

Operational Scaling: Support the scaling of operations to meet growing demand.

Pipeline Development

Key Pipeline Candidates

Personal NEXT is focusing on the following key areas in its development pipeline:

Data Vault Enhancements: Improving the security and usability of the Data Vault, a cloud-based repository for users' data.

Fill It App Expansion: Expanding the capabilities of the Fill It app, which offers one-click form-filling solutions for web and mobile logins, checkouts, and forms.

TeamData Platform: Developing TeamData, a collaborative data management and information security solution for the workplace.

Stages of Development

Data Vault Enhancements: Ongoing development with regular updates to improve functionality and security.

Fill It App Expansion: Beta testing phase, with plans for a full launch in the coming months.

TeamData Platform: Launched in May 2016, with continuous improvements and feature additions.

Target Conditions

The developments aim to address the following conditions:

Data Security: Ensuring that users' personal data is stored and transmitted securely.

User Convenience: Simplifying the process of managing and sharing personal data.

Workplace Collaboration: Facilitating secure and efficient data sharing within organizations.

Relevant Timelines for Anticipated Milestones

Data Vault Enhancements: Quarterly updates with new features and security improvements.

Fill It App Expansion: Full launch expected within the next quarter.

TeamData Platform: Ongoing development with new features planned for the next six months.

Technological Platform and Innovation

Proprietary Technologies

Data Vault: A secure, cloud-based repository for users' personal data, utilizing end-to-end encryption.

Fill It App: An application that enables one-click form-filling for web and mobile platforms, streamlining data entry processes.

TeamData Platform: A collaborative data management and information security solution designed for workplace environments.

Significant Scientific Methods

Data Encryption Protocols: Employing advanced encryption methods to ensure data security and privacy.

User Behavior Analytics: Utilizing AI and machine learning to analyze user interactions and provide personalized data management recommendations.

Leadership Team

Key Executives

Shane Green: Co-founder and CEO. Shane has a background in technology and entrepreneurship, having previously co-founded The Map Network, which was acquired by Nokia/NAVTEQ in 2006.

Joshua P. Galper: Chief Policy Officer and General Counsel. Joshua has been recognized as one of the National Law Journal's "Cybersecurity & Privacy Trailblazers."

Key Contributions

Shane Green: Led the development and launch of Personal NEXT's core products, including the Data Vault and Fill It App.

Joshua P. Galper: Oversaw the company's legal and policy strategies, ensuring compliance with data privacy regulations and advocating for user rights.

Market and Competitor Analysis

Industry Dynamics

The personal data management industry is experiencing significant growth, driven by increasing concerns over data privacy and security. Individuals and organizations are seeking solutions that offer greater control over personal information, creating a dynamic market environment.

Competitor Landscape

Personal NEXT operates in a competitive environment that includes companies offering personal data management and identity solutions. Notable competitors include Digi.me—a company that merged with Personal NEXT in 2017 to create a global personal data control powerhouse—and TeamData, which originated as part of Personal NEXT and was spun off as a separate business in 2017.

Strategic Collaborations

The merger with Digi.me combined resources and expertise to strengthen Personal NEXT's position in the personal data management industry. The company also leverages its differentiated approach centered on user control, privacy, and security to maintain its competitive edge.

Operational Differentiators

Personal NEXT distinguishes itself through a user-centric strategy that emphasizes ease of use while maintaining strict data privacy standards. Its focus on innovation and integration of emerging technologies such as blockchain and AI supports its ability to meet evolving market demands.

Future Strategic Directions

Plans include expanding the product suite to address emerging needs in personal data management, enhancing data sharing capabilities, and integrating with additional platforms. The company's strengths in security and user empowerment position it to advance its leadership in the sector.