Polyteia, a Berlin, Germany-based data platform for governments revolutionizing the way public authorities make decisions and operate their services, secured €5 million in funding.
The round was led by HV Capital, with participation from existing investors like DvH Ventures.
The funds will be used to further develop the company’s platform and expand its market footprint in the DACH region and beyond.
To empower European governments with data-driven decisions, Polyteia is further expanding its SaaS data platform’s transformation stack and no-code/low-code capabilities, as well as building data solutions for various government use cases.
In addition to its software directly to the customer, Polyteia plans to onboard technology partners using its platform and infrastructure for building a large-scale data use case ecosystem for the public sector.
Faruk Tuncer, founder and CEO Of Polyteia, said: “I am thrilled to have the support of HV Capital as we continue to revolutionize the way governments make decisions based on data. Governments worldwide invest and spend trillions on their services. In the Euro Zone alone, half of GDP is directly or indirectly generated by government expenditures. Equally public sector institutions are under high digitization pressure by more than one third of their workforce retiring until 2030. Polyteia’s platform will be crucial in empowering them in their capabilities of solving 21st century challenges with better data against the backdrop of these trends. This new funding will allow us to further develop our data platform and bring it to many more governments in DACH and beyond.”
More than 80 governments, like the states of Schleswig-Holstein or Saarland, as well as national-level ministries in Germany, successfully use Polyteia’s data platform in the fields of social service planning, crisis response, or budget controlling.
Therewith Polyteia is improving decisions impacting more than 2 million citizens and 400,000 businesses just in Germany. The government entities rely on the company’s strong public sector focus and domain knowledge as well as its platforms high data
protection, security, and sovereignty standards.
Company: Polyteia GmbH
Raised: €5.0M
Round: Unknown
Funding Month: February 2023
Lead Investors: HV Capital
Additional Investors: DvH Ventures
Company Website: https://www.polyteia.com/
Software Category: Governance Solutions
About the Company: Founded by Faruk Tuncer, Polyteia is a SaaS and data startup that empowers public administration to make better decisions with a secure and sovereign SaaS data platform. Its data platform Leto, enables the automated integration, transformation, and visualization of data from different source systems in public administration. Leto is accessible through the Solution and Studio product lines. The solutions are designed to cover the most common use cases in the public sector for different work areas. With the no-code/low-code solution Studio, data is flexibly integrated and processed.
Source: https://www.polyteia.com/category/press-release/