While digital transformation and the rise of cloud computing have produced vast amounts of data. Meanwhile, the EU has spearheaded a global push for more robust data protection and enforcement, issuing fines in the billions. Large tech companies have come under scrutiny for their mismanagement of personal data. In the wake of global conflict, cyberattacks have escalated and many businesses and governments have fallen victim to hacks and data breaches.
Helping SMEs and corporates navigate this reality, Munich-based data privacy, information security and compliance platform DataGuard has brought in €61 million in funding. The Series B round was led by San Francisco-based Morgan Stanley Expansion Capital and existing investor One Peak. The round was also backed by strategic angel investors such as SaaS unicorn founders Bastian Nominacher (co-founder and co-CEO of Celonis), Hanno Renner (co-founder and CEO of Personio), and Carsten Thoma (co-founder of Hybris) and Kreos Capital.
The Series B takes the total amount raised over the last two and a half years to €80 million. The funding will be used to further accelerate its product development and its expansion across Europe and the U.S.
Launched in 2018 by Thomas Regier and Kivanc Semen, the German SaaS platform aims to help companies implement privacy, information security (infosec), and compliance. Customers use DataGuard’s solution to achieve compliance with national and international regulation and to obtain industry-standard certifications, including GDPR, CCPA, ISO 27001, TISAX, SOC 2, and many more.
The company’s customer base includes the likes of Taxdoo, Flipdish, Xentral, ABB, Canon, SUSE and Unicef.
Thomas Regier, co-founder and co-CEO at DataGuard said: “We exist to help organisations build trust. And we’re delighted to be the trusted partner to over 3,000 customers operating all over the globe. With millions of businesses subject to ever-changing legislation and technology, we believe that this is just the beginning. The capital we raised will be used to help many more organisations achieve their business goals through stronger compliance and security.”
Kivanc Semen, co-founder and co-CEO at DataGuard added: “Organisations of all sizes are handling vast amounts of data across countless processes. Privacy, infosec and compliance are inextricably linked – and customers do not want several point solutions but rather a single vendor that offers them a fully integrated experience.”
Lincoln Isetta, managing director of Morgan Stanley Expansion Capital added: “DataGuard’s unique, all-in-one platform allows customers to move beyond simple ‘check-the-box’ compliance, information security and data privacy practices and instead manage data as a competitive differentiator.”