Swedish data protection company DPOrganizer has raised a €3m Series A extension round.
The round was led by US-based venture capital firm Paladin Capital Group, with participation from Industrifonden, Creades, Inbox Capital, and Soläng Invest. It brings DPOrganizer’s total Series A funding to €6m.
Based in Stockholm, DPOrganizer helps organisations across the world grow, and live, with GDPR. Over the past year it claims to have grown tenfold with GDPR coming into force on 25th May, 2018.
Nazo Moosa, senior strategic partner at Paladin, said: “An easy-to-use data protection management software is an essential piece of a company’s GDPR compliance toolkit. Paladin is delighted to lead an investment in this rapidly growing company and to support DPOrganizer in their international expansion.”
Founded in 2015 by Egil Bergenlind, former chief compliance officer at iZettle, DPOrganizer offers a data protection management software, that helps businesses map, visualize and manage their processing of personal data.
With personal data protection becoming a core concern for businesses and organisations around the world, its ‘easy-to-use and powerful’ software-as-a-service claims to help users comply with GDPR, collaborate with stakeholders and communicate with the right parties.
Its SaaS tool supports businesses to grow, and live, under the General Data Protection Regulation (GDPR) and now serves customers in 17 countries around the world.
Bergenlind added: “Joining forces with Paladin Capital Group at this stage of our growth is very timely. With Paladin’s deep industry expertise and international experience, bringing on an global investor of their calibre will be an important step in our mission of reaching more privacy professionals around the world.”
Recent research from RegTech Analyst found that GDPR RegTech solution providers saw a spike in funding leading up to the May deadline. Over $4.8bn has been invested in RegTech companies globally since 2012, with 47.7% of this going to companies addressing AML and KYC. However, more than a quarter ($1.2bn) of the total capital raised by RegTech companies globally has been invested in GDPR and MiFID II solution providers according to the report.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
