DataGuard, a Munich, Germany-based Europe's leading data privacy, information security, and compliance platform for SMEs and corporates, raised €61 million in Series B funding, bringing DataGuard's total funding to €80 million.
The round was led by San Francisco-based Morgan Stanley Expansion Capital and existing investor One Peak. Strategic angel investors such as SaaS unicorn founders Bastian Nominacher (Celonis), Hanno Renner (Personio), and Carsten Thoma (Hybris) also joined the round.
The proceeds will be used to fuel DataGuard's expansion across Europe and the US and further accelerate the development of its all-in-one software platform.
DataGuard was founded to help SME and corporates navigate this reality. Thomas Regier, co-founder and co-CEO at DataGuard, says: “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, said: “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. This fundraise will turbocharge the further development of our solution, bringing more workflow automations, integrations and selected product partner offerings (such as penetration testing) to the DataGuard platform.”
Over the last two years, DataGuard's customer base has tripled. As it has moved upmarket to larger customers, it has recorded a 7x annual recurring revenue (ARR) increase in its Mid-market/Corporate segment. Growth is accelerating, with the company adding 8x as much ARR in the last six months as it did in the same period in 2020.
Company: DataCo GmbH
Raised: €61.0M
Round: Series B
Funding Month: September 2022
Lead Investors: Morgan Stanley Expansion Capital and One Peak
Additional Investors: Bastian Nominacher, Hanno Renner, Carsten Thoma, and Kreos Capital
Company Website: https://www.dataguard.com/
Software Category: Data Privacy, Information Security, and Compliance
About the Company: DataGuard, founded in 2018 by Thomas Regier and Kivanc Semen, is a Software-as-a-Service company specializing in privacy, information security, and compliance. Its end-to-end solution drastically reduces businesses' time and money on protecting personal data, securing information and assets, and keeping business processes compliant. Over 3,000 organizations now use DataGuard's SaaS platform to implement privacy, information security ("infosec"), and compliance. Customers use DataGuard's solution to achieve national and international regulatory compliance and industry-standard certifications (including GDPR, CCPA, ISO 27001, TISAX, SOC 2, and many more). Thousands of SMEs, many of which are fast-growing scale-ups like Taxdoo, Flipdish, and Xentral, as well as numerous corporate customers like ABB, Canon, SUSE, and Unicef, are among the company's customers. The company has expanded its team to nearly 250 employees to meet customer demand. The remote-friendly company currently has team members in 20 countries (with offices in Munich, Berlin, London, and Vienna) and will continue to hire across all functions.
Source: https://www.dataguard.com/press/dataguard-series-b-funding-announcement