The Munich-based company’s compliance and security platform helps organizations securely handle data, information and compliance. This allows them to generate trust, reduce risks and increase revenue.
Since the advent of cloud computing and the onset of digital transformation, tremendous amounts of data have been produced. In parallel, the EU has spearheaded a global effort to enforce stricter data protection laws and levy fines in the billions. Scrutiny has arisen for large tech companies due to their mishandling of personal data. Since the onset of global hostilities, cyberattacks have increased — along with hacks and data breaches — amongst businesses and governments.
DataGuard is a Munich-based data security, information security and compliance platform. It recently raised €61 million in Series B funding. This was due to efforts from Morgan Stanley Expansion Capital and existing investor One Peak. Additionally, several strategic angel investors contributed to the funding round. These included SaaS unicorn founders Bastian Nominacher and Hanno Renner; Carsten Thoma and Kreos Capital were also involved. The platform claims to help both SMEs and corporations navigate the reality of data privacy and security.
The Series B funding over the last 2.5 years added up to €80 million. This funding will help the company develop its products further and expand throughout Europe and the United States.
DataGuard is a software as a service platform created in 2018 by Kivanc Semen and Thomas Regier. The platform helps companies achieve compliance with national and international regulations, including ISO 27001, TISAX, CCPA, SOC 2 and GDPR. By using DataGuard’s solution, customers are able to achieve these certifications and standards within their respective industries.
Customers of the company include Taxdoo, Flipdish, Xentral, ABB, Canon, SUSE and Unicef.
Thomas Regier co-founder and co-chief executive officer of DataGuard said, “We exist to help organizations build trust. We are pleased to be a trusted partner to over 3,000 customers operating all over the world. With the ever-changing laws and technology in many millions of businesses, we believe this is just the beginning. The capital raised will be used to help more organizations accomplish their goals through stronger compliance and security.”
Kivanc Semen, co-founder and co-CEO of DataGuard, said, “Many organizations handle immense amounts of data across numerous processes. Compliance, security and privacy are closely related— and customers don’t want multiple point solutions. They instead desire a single vendor that offers them a fully integrated experience.”
DataGuard’s all-in-one platform allows customers to manage their data as a competitive advantage rather than just adhere to basic compliance and security practices. Lincoln Isetta from Morgan Stanley Expansion Capital commented on this, saying “DataGuard’s platform provides secure solutions that go well beyond simple compliance practices.”