Dataguard, a software-as-a-service startup specializing in data protection, information security, and compliance, successfully closes its Series B round with €61 million. Lead investors are San Francisco-based Morgan Stanley Expansion Capital and existing investor One Peak from London. With the new capital, the Munich-based company plans to expand its product portfolio and further strengthen its market position in Europe and the US. Thomas Regier, co-founder and co-CEO of Dataguard, says:
"Our mission is to help companies protect their data, build a secure IT infrastructure, and comply with all important regulations – and to do so as easily as possible. Already, more than 40 million people come into contact with our platform through our more than 3,000 enterprise customers. We believe this is just the beginning. Millions of companies around the world must navigate an increasingly dynamic security and compliance environment. We are their partner in this."
Dataguard was founded in 2017 by Thomas Regier and Kivanc Semen and, according to the company, has 250 employees working in 20 countries. The current financing round follows a Series A in April 2020, in which the London-based growth investor One Peak was already involved.
“Further optimize the Dataguard platform”
At the core of Dataguard's offering is a software platform that helps companies manage their compliance processes related to regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), as well as the processes necessary to obtain important security certifications. Every collaboration with the Munich-based company begins with an audit to identify data protection and security gaps and risk areas. Customers then receive customized documentation with recommended actions. In addition, the Dataguard Academy, an online training platform, offers regular compliance and security training for customers' employees. Kivanc Semen, co-founder and co-CEO of Dataguard, says:
"Data protection, information security, and compliance are inextricably linked – and customers don't want multiple individual solutions, but rather a single provider that offers them everything from a single source. Thanks to the current financing round, we can further optimize the Dataguard platform in this regard and also integrate selected partner offerings into it."
“Data protection, information security and compliance are becoming increasingly important”
Lincoln Isetta, Managing Director of Margan Stanley Expansion Capital, commented on the financing round:
"Data protection, information security, and compliance are becoming increasingly important for businesses, regulators, and consumers in an era of exponentially growing data volumes. We have carefully reviewed Dataguard's business model and concluded that the company's unique all-in-one platform offers its customers a real competitive advantage that goes far beyond simple "check-the-box" solutions. We are excited to be able to support the company in its continued growth."
And David Klein, Managing Partner at One Peak, and Christoph Mayer, partners, add:
"Dataguard has grown significantly since our initial investment, which speaks volumes about the energy and capabilities of its leadership team. Dataguard has helped create a new service category in data protection and information security. Over the next decade, companies worldwide will invest tens of billions in compliance and security to become and remain trusted partners. We were the first institutional investor in Dataguard in 2020 and are delighted to now double our investment. We want to support the company in further accelerating its growth and entering additional markets."
