This Privacy Notice for Prism Research LLC ("we," "us," or "our"), describes how and why we might access, collect, store, use, and share ("process") your personal information when you use our services ("Services"), including when you:
- Visit our website at https://prismresearch.co or any website of ours that links to this Privacy Notice;
- Use Prism Research, a private markets research platform operated by Prism Research LLC. The Service provides company profiles, indicative secondary market pricing, cap table analysis, transfer restriction terms, and related research and data products focused on private equity secondary market intelligence. The Service is intended for use by accredited investors, secondaries intermediaries, general partners, limited partners, family offices, wealth managers, and other institutional or professional users;
- Engage with us in other related ways, including any marketing or events.
Questions or concerns? Reading this Privacy Notice will help you understand your privacy rights and choices. We are responsible for making decisions about how your personal information is processed. If you do not agree with our policies and practices, please do not use our Services. If you still have any questions or concerns, please contact us at [email protected].
Summary of Key Points
This summary provides key points from our Privacy Notice. You can find more details about any of these topics in the corresponding section below.
What personal information do we process? When you visit, use, or navigate our Services, we may process personal information depending on how you interact with us, the choices you make, and the products and features you use.
Do we process any sensitive personal information? No. We do not process sensitive personal information.
Do we collect information from third parties? We receive limited payment metadata from Stripe in connection with transactions you initiate. We do not currently collect personal information from public databases, marketing partners, affiliate programs, data providers, or social media platforms for advertising or profiling purposes.
How do we process your information? We process your information to provide, improve, and administer our Services, communicate with you, generate AI-assisted research reports based on company queries you submit, verify professional eligibility for access to private markets research, prevent fraud, and comply with law.
With whom do we share personal information? We share information with a limited set of service providers (Stripe, Resend, Cloudflare, Anthropic, Google OAuth) who are contractually bound to protect your data.
How do we keep your information safe? We have organizational and technical processes in place to protect your information, though no system can guarantee absolute security.
What are your rights? Depending on where you are located, applicable privacy laws may give you rights regarding your personal information.
How do you exercise your rights? Email us at [email protected].
Table of Contents
- What information do we collect?
- How do we process your information?
- What legal bases do we rely on?
- When and with whom do we share?
- Do we use cookies and tracking?
- Do we offer AI-based products?
- How do we handle social logins?
- Is your information transferred internationally?
- How long do we keep your information?
- How do we keep your information safe?
- Do we collect information from minors?
- What are your privacy rights?
- Controls for Do-Not-Track
- Do US residents have specific rights?
- Third parties in research reports
- Do we make updates to this notice?
- How can you contact us?
- How can you review or delete data?
1. What Information Do We Collect?
Personal information you disclose to us
We collect personal information that you voluntarily provide to us when you register on the Services, express an interest in obtaining information about us or our products and Services, when you participate in activities on the Services, or otherwise when you contact us.
Personal Information Provided by You. The personal information that we collect depends on the context of your interactions with us and the Services, the choices you make, and the products and features you use. The personal information we collect may include the following:
- Names
- Phone numbers
- Email addresses
- Job titles
- Company name
Sensitive Information. We do not process sensitive information.
Payment Data. We may collect data necessary to process your payment if you choose to make purchases. All payment data is handled and stored by Stripe. You may find their privacy notice at https://stripe.com/privacy.
Social Media Login Data. We may provide you with the option to register with us using your existing Google account. If you choose to register in this way, we will collect certain profile information about you from Google, as described in the section "How Do We Handle Your Social Logins?" below.
All personal information that you provide to us must be true, complete, and accurate, and you must notify us of any changes to such personal information.
Information automatically collected
We automatically collect certain information when you visit, use, or navigate the Services. This information does not reveal your specific identity but may include device and usage information, such as your IP address, browser and device characteristics, operating system, language preferences, referring URLs, device name, country, location, information about how and when you use our Services, and other technical information. This information is primarily needed to maintain the security and operation of our Services, and for our internal analytics and reporting purposes.
The information we collect includes:
- Log and Usage Data. Service-related, diagnostic, usage, and performance information our servers automatically collect when you access or use our Services. This may include IP address, device information, browser type, settings, activity in the Services (date/time stamps, pages and files viewed, searches, and other actions), and device event information (system activity, error reports, hardware settings).
- Device Data. Information about your computer, phone, tablet, or other device you use to access the Services, which may include your IP address (or proxy server), device and application identification numbers, location, browser type, hardware model, Internet service provider or mobile carrier, operating system, and system configuration information.
Google API
Our use of information received from Google APIs will adhere to the Google API Services User Data Policy, including the Limited Use requirements.
Information collected from other sources
We do not currently obtain personal information about users from public databases, marketing partners, affiliate programs, data providers, or social media platforms for advertising or profiling purposes. The only third-party information we receive is payment metadata from Stripe in connection with transactions you initiate, and basic profile information from Google when you register or log in via Google OAuth.
2. How Do We Process Your Information?
We process your personal information for a variety of reasons, depending on how you interact with our Services, including:
- To facilitate account creation and authentication and otherwise manage user accounts. We may process your information so you can create and log in to your account, as well as keep your account in working order.
- To deliver and facilitate delivery of services to the user. We may process your information to provide you with the requested service.
- To respond to user inquiries and offer support to users. We may process your information to respond to your inquiries and solve any potential issues you might have with the requested service.
- To send administrative information to you. We may process your information to send you details about our products and services, changes to our terms and policies, and other similar information.
- To fulfill and manage your orders. We may process your information to fulfill and manage your orders, payments, returns, and exchanges made through the Services.
- To request feedback. We may process your information when necessary to request feedback and to contact you about your use of our Services.
- To send you marketing and promotional communications. We may process the personal information you send to us for our marketing purposes, if this is in accordance with your marketing preferences. You can opt out of our marketing emails at any time.
- To protect our Services. We may process your information as part of our efforts to keep our Services safe and secure, including fraud monitoring and prevention.
- To identify usage trends. We may process information about how you use our Services to better understand how they are being used so we can improve them.
- To save or protect an individual's vital interest. We may process your information when necessary to save or protect an individual's vital interest, such as to prevent harm.
- To generate company research reports. We process company name search queries submitted by users to generate AI-assisted research reports covering funding history, secondary market pricing, cap table analysis, transfer restrictions, and liquidity signals. Search queries are processed by our AI research provider (Anthropic) to produce the report content.
- To verify professional eligibility for access to private markets research. We process role, company, and professional contact information collected at signup to confirm that users are likely accredited investors, intermediaries, general partners, limited partners, family offices, or institutional users for whom private markets secondary research is appropriate.
3. What Legal Bases Do We Rely On to Process Your Information?
If you are located in the EU or UK, this section applies to you.
The General Data Protection Regulation (GDPR) and UK GDPR require us to explain the valid legal bases we rely on in order to process your personal information. As such, we may rely on the following legal bases to process your personal information:
- Consent. We may process your information if you have given us permission to use your personal information for a specific purpose. You can withdraw your consent at any time.
- Performance of a Contract. We may process your personal information when we believe it is necessary to fulfill our contractual obligations to you, including providing our Services or at your request prior to entering into a contract with you.
- Legitimate Interests. We may process your information when we believe it is reasonably necessary to achieve our legitimate business interests and those interests do not outweigh your interests and fundamental rights and freedoms. For example, we may process your personal information to:
- Send users information about special offers and discounts on our products and services
- Analyze how our Services are used so we can improve them to engage and retain users
- Diagnose problems and prevent fraudulent activities
- Understand how our users use our products and services so we can improve user experience
- Ensure the Service is accessed by professional and institutional users for whom the research and data products are intended, protect users who may not be eligible for speculative or illiquid investment information, and maintain our compliance posture as a private markets research publisher
- Legal Obligations. We may process your information where we believe it is necessary for compliance with our legal obligations, such as to cooperate with a law enforcement body or regulatory agency, exercise or defend our legal rights, or disclose your information as evidence in litigation.
- Vital Interests. We may process your information where we believe it is necessary to protect your vital interests or the vital interests of a third party, such as situations involving potential threats to the safety of any person.
If you are located in Canada, this section applies to you.
We may process your information if you have given us specific permission (express consent) to use your personal information for a specific purpose, or in situations where your permission can be inferred (implied consent). You can withdraw your consent at any time.
In some exceptional cases, we may be legally permitted under applicable law to process your information without your consent, including, for example: if collection is clearly in the interests of an individual and consent cannot be obtained in a timely way; for investigations and fraud detection and prevention; for business transactions provided certain conditions are met; if disclosure is required to comply with a subpoena, warrant, court order, or rules of the court; or if the information is publicly available and is specified by the regulations.
4. When and With Whom Do We Share Your Personal Information?
Vendors, Consultants, and Other Third-Party Service Providers. We may share your data with third-party vendors, service providers, contractors, or agents ("third parties") who perform services for us or on our behalf and require access to such information to do that work. We have contracts in place with our third parties, which are designed to help safeguard your personal information. They cannot do anything with your personal information unless we have instructed them to do it. They will not share your personal information with any organization apart from us. They also commit to protect the data they hold on our behalf and to retain it for the period we instruct.
The third parties we may share personal information with are as follows:
- AI Service Providers — Anthropic
- Invoice and Billing — Stripe
- User Account Registration and Authentication — Google OAuth 2.0
- Website Hosting and Cloud Computing — Cloudflare
- Email Delivery — Resend
We may also need to share your personal information in the following situations:
- Business Transfers. We may share or transfer your information in connection with, or during negotiations of, any merger, sale of company assets, financing, or acquisition of all or a portion of our business to another company.
5. Do We Use Cookies and Other Tracking Technologies?
We use only strictly necessary cookies required to maintain your authenticated session and the security of our Services. These cookies help us prevent crashes, fix bugs, save your preferences, and assist with basic site functions.
We do not use cookies for analytics, advertising, behavioral targeting, retargeting, or shopping cart tracking. We do not permit third parties to use tracking technologies on our Services for advertising or behavioral profiling.
Most web browsers are set to accept cookies by default. If you prefer, you can usually choose to set your browser to remove cookies and to reject cookies. If you choose to remove cookies or reject cookies, this could affect certain features of our Services, including the ability to remain logged in.
6. Do We Offer Artificial Intelligence-Based Products?
As part of our Services, we offer products, features, and tools powered by artificial intelligence, machine learning, and similar technologies (collectively, "AI Products"). These tools are designed to enhance your experience and provide you with innovative solutions. The terms in this Privacy Notice govern your use of the AI Products within our Services.
Use of AI Technologies
We provide the AI Products through third-party service providers ("AI Service Providers"), including Anthropic. As outlined in this Privacy Notice, your input, output, and personal information will be shared with and processed by these AI Service Providers to enable your use of our AI Products for purposes outlined in "What Legal Bases Do We Rely On to Process Your Personal Information?". You must not use the AI Products in any way that violates the terms or policies of any AI Service Provider.
Our AI Products
Our AI Products are designed for the following functions:
- AI research
- AI insights
- AI search
- AI document generation
- Natural language processing
- Text analysis
How We Process Your Data Using AI
All personal information processed using our AI Products is handled in line with our Privacy Notice and our agreement with third parties. This ensures security and safeguards your personal information throughout the process.
How to Opt Out
To opt out, you can:
- Contact us using the contact information provided.
- Refrain from using the Company Profiler and Compare features of the Service, which are the only features that involve AI processing. You may also delete your account by emailing [email protected], which removes all stored search queries and prevents future AI processing.
7. How Do We Handle Your Social Logins?
Our Services offer you the ability to register and log in using your Google account via Google OAuth 2.0. Where you choose to do this, we will receive certain profile information about you from Google. This may include your name, email address, and profile picture, as well as other information you choose to make available through the OAuth scope.
We will use the information we receive only for the purposes that are described in this Privacy Notice or that are otherwise made clear to you on the relevant Services. Please note that we do not control, and are not responsible for, other uses of your personal information by Google. We recommend that you review Google's privacy notice to understand how they collect, use, and share your personal information, and how you can set your privacy preferences.
8. Is Your Information Transferred Internationally?
Our servers are located in the United States. Regardless of your location, please be aware that your information may be transferred to, stored by, and processed by us in our facilities and in the facilities of the third parties with whom we may share your personal information (see "When and With Whom Do We Share Your Personal Information?" above), including facilities in the United States and other countries.
If you are a resident in the European Economic Area (EEA), United Kingdom (UK), or Switzerland, then these countries may not necessarily have data protection laws or other similar laws as comprehensive as those in your country. However, we will take all necessary measures to protect your personal information in accordance with this Privacy Notice and applicable law.
European Commission's Standard Contractual Clauses
We have implemented measures to protect your personal information, including by using the European Commission's Standard Contractual Clauses for transfers of personal information between us and our third-party providers. These clauses require all recipients to protect all personal information that they process originating from the EEA or UK in accordance with European data protection laws and regulations. Our Standard Contractual Clauses can be provided upon request. We have implemented similar appropriate safeguards with our third-party service providers and partners; further details can be provided upon request.
9. How Long Do We Keep Your Information?
We will only keep your personal information for as long as it is necessary for the purposes set out in this Privacy Notice, unless a longer retention period is required or permitted by law (such as tax, accounting, or other legal requirements). No purpose in this notice will require us keeping your personal information for longer than eighty four (84) months past the termination of the user's account.
When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize such information, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
10. How Do We Keep Your Information Safe?
We have implemented appropriate and reasonable technical and organizational security measures designed to protect the security of any personal information we process. However, despite our safeguards and efforts to secure your information, no electronic transmission over the Internet or information storage technology can be guaranteed to be 100% secure, so we cannot promise or guarantee that hackers, cybercriminals, or other unauthorized third parties will not be able to defeat our security and improperly collect, access, steal, or modify your information. Although we will do our best to protect your personal information, transmission of personal information to and from our Services is at your own risk. You should only access the Services within a secure environment.
11. Do We Collect Information From Minors?
We do not knowingly collect, solicit data from, or market to children under 18 years of age, nor do we knowingly sell such personal information. By using the Services, you represent that you are at least 18 or that you are the parent or guardian of such a minor and consent to such minor dependent's use of the Services. If we learn that personal information from users less than 18 years of age has been collected, we will deactivate the account and take reasonable measures to promptly delete such data from our records. If you become aware of any data we may have collected from children under age 18, please contact us at [email protected].
12. What Are Your Privacy Rights?
In some regions (like the EEA, UK, Switzerland, and Canada), you have certain rights under applicable data protection laws. These may include the right (i) to request access and obtain a copy of your personal information; (ii) to request rectification or erasure; (iii) to restrict the processing of your personal information; (iv) if applicable, to data portability; and (v) not to be subject to automated decision-making. If a decision that produces legal or similarly significant effects is made solely by automated means, we will inform you, explain the main factors, and offer a simple way to request human review. In certain circumstances, you may also have the right to object to the processing of your personal information.
We will consider and act upon any request in accordance with applicable data protection laws.
If you are located in the EEA or UK and you believe we are unlawfully processing your personal information, you also have the right to complain to your Member State data protection authority or UK data protection authority.
If you are located in Switzerland, you may contact the Federal Data Protection and Information Commissioner.
Withdrawing your consent
If we are relying on your consent to process your personal information, you have the right to withdraw your consent at any time by contacting us at [email protected]. However, please note that this will not affect the lawfulness of the processing before its withdrawal nor, when applicable law allows, will it affect the processing of your personal information conducted in reliance on lawful processing grounds other than consent.
Opting out of marketing communications
You can unsubscribe from our marketing and promotional communications at any time by clicking the unsubscribe link in our emails, or by emailing [email protected] with the subject "Unsubscribe". You will then be removed from the marketing lists. However, we may still communicate with you to send service-related messages necessary for the administration and use of your account, to respond to service requests, or for other non-marketing purposes.
Account Information
If you would at any time like to review or change the information in your account or terminate your account, contact us using the contact information provided. Upon your request to terminate your account, we will deactivate or delete your account and information from our active databases. However, we may retain some information in our files to prevent fraud, troubleshoot problems, assist with any investigations, enforce our legal terms, or comply with applicable legal requirements.
If you have questions or comments about your privacy rights, you may email us at [email protected].
13. Controls for Do-Not-Track Features
Most web browsers and some mobile operating systems and mobile applications include a Do-Not-Track ("DNT") feature or setting you can activate to signal your privacy preference not to have data about your online browsing activities monitored and collected. At this stage, no uniform technology standard for recognizing and implementing DNT signals has been finalized. As such, we do not currently respond to DNT browser signals or any other mechanism that automatically communicates your choice not to be tracked online. If a standard for online tracking is adopted that we must follow in the future, we will inform you about that practice in a revised version of this Privacy Notice.
California law requires us to let you know how we respond to web browser DNT signals. Because there currently is not an industry or legal standard for recognizing or honoring DNT signals, we do not respond to them at this time.
14. Do United States Residents Have Specific Privacy Rights?
Categories of Personal Information We Collect
The table below shows the categories of personal information we have collected in the past twelve (12) months.
| Category | Examples | Collected |
|---|---|---|
| A. Identifiers | Contact details, such as real name, alias, postal address, telephone or mobile contact number, unique personal identifier, online identifier, IP address, email address, and account name | YES |
| B. Personal information as defined in the California Customer Records statute | Name, contact information, education, employment, employment history, and financial information | YES |
| C. Protected classification characteristics | Gender, age, date of birth, race and ethnicity, national origin, marital status, and other demographic data | NO |
| D. Commercial information | Transaction information, purchase history, financial details, and payment information | YES |
| E. Biometric information | Fingerprints and voiceprints | NO |
| F. Internet or other similar network activity | Browsing history, search history, online behavior, interest data, and interactions with our websites and applications | YES |
| G. Geolocation data | Device location | NO |
| H. Audio, electronic, sensory, or similar information | Images and audio, video or call recordings created in connection with our business activities | NO |
| I. Professional or employment-related information | Business contact details to provide our Services at a business level, or job title, work history, and professional qualifications | YES |
| J. Education Information | Student records and directory information | NO |
| K. Inferences drawn from collected personal information | Inferences drawn from any of the collected personal information to create a profile or summary about an individual's preferences and characteristics | NO |
| L. Sensitive personal information | — | NO |
We may also collect other personal information outside of these categories through instances where you interact with us in person, online, or by phone or mail in the context of receiving help through our customer support channels, participation in customer surveys or contests, or facilitation in the delivery of our Services and to respond to your inquiries.
We will use and retain the collected personal information as needed to provide the Services or for the duration of your account relationship with us, plus 84 months (7 years) following account termination, to comply with applicable tax, accounting, and regulatory record-keeping requirements. After this period, we will delete or anonymize your personal information unless retention is required by law.
Sources of Personal Information
Learn more about the sources of personal information we collect in "What Information Do We Collect?"
How We Use and Share Personal Information
Learn more about how we use your personal information in "How Do We Process Your Information?"
Will your information be shared with anyone else? We may disclose your personal information with our service providers pursuant to a written contract between us and each service provider. Learn more about how we disclose personal information in "When and With Whom Do We Share Your Personal Information?"
We may use your personal information for our own business purposes, such as for undertaking internal research for technological development and demonstration. This is not considered to be "selling" of your personal information.
We have not sold or shared any personal information to third parties for a business or commercial purpose in the preceding twelve (12) months. We have disclosed the following categories of personal information to third parties for a business or commercial purpose in the preceding twelve (12) months:
- Category A. Identifiers
- Category B. Personal information as defined in the California Customer Records law
- Category D. Commercial information
- Category F. Internet or other electronic network activity information
- Category I. Professional or employment-related information
The categories of third parties to whom we disclosed personal information for a business or commercial purpose can be found under "When and With Whom Do We Share Your Personal Information?"
Your Rights
You have rights under certain US state data protection laws. However, these rights are not absolute, and in certain cases, we may decline your request as permitted by law. These rights include:
- Right to know whether or not we are processing your personal data
- Right to access your personal data
- Right to correct inaccuracies in your personal data
- Right to request the deletion of your personal data
- Right to obtain a copy of the personal data you previously shared with us
- Right to non-discrimination for exercising your rights
- Right to opt out of the processing of your personal data if it is used for targeted advertising (or sharing as defined under California's privacy law), the sale of personal data, or profiling in furtherance of decisions that produce legal or similarly significant effects ("profiling")
Depending upon the state where you live, you may also have additional rights, including the right to obtain a list of the categories of third parties to which we have disclosed personal data, the right to review and correct how personal data has been profiled, and the right to limit use and disclosure of sensitive personal data.
How to Exercise Your Rights
To exercise these rights, you can contact us by emailing [email protected] or by referring to the contact details at the bottom of this document.
Under certain US state data protection laws, you can designate an authorized agent to make a request on your behalf. We may deny a request from an authorized agent that does not submit proof that they have been validly authorized to act on your behalf in accordance with applicable laws.
Request Verification
Upon receiving your request, we will need to verify your identity to determine you are the same person about whom we have the information in our system. We will only use personal information provided in your request to verify your identity or authority to make the request. However, if we cannot verify your identity from the information already maintained by us, we may request that you provide additional information for the purposes of verifying your identity and for security or fraud-prevention purposes.
Appeals
Under certain US state data protection laws, if we decline to take action regarding your request, you may appeal our decision by emailing [email protected]. We will inform you in writing of any action taken or not taken in response to the appeal, including a written explanation of the reasons for the decisions. If your appeal is denied, you may submit a complaint to your state attorney general.
California "Shine The Light" Law
California Civil Code Section 1798.83, also known as the "Shine The Light" law, permits our users who are California residents to request and obtain from us, once a year and free of charge, information about categories of personal information (if any) we disclosed to third parties for direct marketing purposes and the names and addresses of all third parties with which we shared personal information in the immediately preceding calendar year. If you are a California resident and would like to make such a request, please submit your request in writing to [email protected].
15. Information About Third Parties in Research Reports
The research reports, company profiles, and analytical content generated by the Service contain information about third-party companies and individuals associated with those companies (including members of management teams, executives, and officers). This information is sourced from publicly available materials via web search and AI-assisted research. Such individuals do not have a direct relationship with Prism Research LLC.
Individuals featured in our research reports who wish to inquire about, correct, or request modification of the information displayed about them may contact us at [email protected]. We will respond to such requests within the timeframe required by applicable law and may verify the requester's identity before taking action.
16. Do We Make Updates to This Notice?
We may update this Privacy Notice from time to time. The updated version will be indicated by an updated "Revised" date at the top of this Privacy Notice. If we make material changes to this Privacy Notice, we may notify you either by prominently posting a notice of such changes or by directly sending you a notification. We encourage you to review this Privacy Notice frequently to be informed of how we are protecting your information.
17. How Can You Contact Us About This Notice?
If you have questions or comments about this notice, you may contact our Data Protection Officer (DPO) by email at [email protected], or contact us by post at:
Prism Research LLC
Data Protection Officer
629 E 5th St
Apt 16
New York, NY 10009
United States
18. How Can You Review, Update, or Delete the Data We Collect From You?
Based on the applicable laws of your country or state of residence in the US, you may have the right to request access to the personal information we collect from you, details about how we have processed it, correct inaccuracies, or delete your personal information. You may also have the right to withdraw your consent to our processing of your personal information. These rights may be limited in some circumstances by applicable law. To request to review, update, or delete your personal information, please email [email protected].