Didomi

Didomi emerged as a solution to a fundamental problem created by European privacy regulations: enterprises needed a way to manage user consent at scale. As GDPR took effect in 2018 and privacy laws proliferated globally, cookie banners became not just a compliance necessity but a business operation. The insight was that handling consent decisions—billions of them monthly—required specialized infrastructure that could be embedded across the web.

Raphaël Boukris bootstrapped the initial version with angel funding under €300k, focusing on building an SDK that could be deployed across digital properties. The product achieved remarkable scale quickly: by the time of the first institutional funding round, roughly 2% of global web traffic was running through Didomi's SDK, processing billions of consent decisions monthly.

The company raised €5m from Breega in late 2019, validating the market demand. Major customers including Bloomberg, Sky, and Adyen adopted the platform, demonstrating strong product-market fit in the enterprise segment. The business model was straightforward: pricing based on monthly unique visitors, with customers ranging from small publishers to massive media companies.

In summer 2021, Didomi closed a €34m ($40m) Series B led by Elephant and Breega, priced at above a 10x ARR multiple during the height of the growth equity boom. The roadshow was run through Elephant, signaling confidence in the market opportunity. By this point, the company had crossed $10m ARR and was processing billions of consents monthly. The funding round included secondaries, allowing early employees and angels to partially liquidate holdings.

Eight months after the Series B, the market collapsed. However, Boukris had never burned through the capital recklessly. In April 2025, Marlin Equity Partners took majority control of the company. Rather than building new products organically, Didomi immediately deployed capital into strategic acquisitions: Addingwell (a few million ARR, profitable enough to pay dividends, with thousands-of-euros ACV) and Sourcepoint (a company that had raised $48m, acquired for its enterprise ACV and US customer base). This consolidation play reflected a mature, disciplined approach to M&A.

The combined group now operates at $40-60m ARR across 3,500 customers with fewer than 200 employees. The customer base includes at least one account paying over $1m per year. The company faced emerging challenges: AI agents and bots were breaking the traditional pricing model based on monthly unique visitors, forcing product adaptation. Didomi had evolved from a pure SaaS consent platform to a portfolio company managing multiple brands in the privacy compliance space.