The software-as-a-service startup Dataguard, specializing in data protection, information security, and compliance, successfully closes its Series B round with €61 million. Lead investors are Morgan Stanley Expansion Capital from San Francisco 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 USA. Thomas Regier, co-founder and co-CEO of Dataguard, comments:
“Our mission is to help companies protect their data, build secure IT infrastructure, and comply with all important regulations – as easily as possible. Already, through our more than 3,000 corporate customers, more than 40 million people interact with our platform. We believe this is just the beginning. Millions of companies worldwide need to navigate an increasingly dynamic security and compliance environment. We are their partner.”
Dataguard was founded in 2017 by Thomas Regier and Kivanc Semen and currently employs 250 people working from 20 countries. The current funding round follows a Series A in April 2020, in which London-based growth investor One Peak was already involved.
“Further optimizing the Dataguard platform”
At the core of Dataguard’s offering is a software platform that enables companies to manage their compliance processes around regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), as well as manage the necessary processes to obtain important security certifications. Every engagement with the Munich-based company begins with an audit to identify data protection and security gaps as well as risk areas. Customers then receive customized documentation with recommendations for action. Additionally, 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, comments:
“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 one source. Thanks to the current funding round, we can further optimize the Dataguard platform in this regard and also integrate selected offerings from partners into it.”
“Data protection, information security, and compliance are becoming increasingly important”
Lincoln Isetta, Managing Director of Morgan Stanley Expansion Capital, comments on the funding round:
“Data protection, information security, and compliance are becoming increasingly important for companies, regulators, and consumers in an era of exponentially growing data volumes. We carefully reviewed Dataguard’s business model and concluded that the company’s unique all-in-one platform offers its customers a genuine competitive advantage that goes far beyond simple ‘check-the-box’ solutions. We are excited to accompany the company as it continues to grow.”
And David Klein, Managing Partner at One Peak, and Christoph Mayer, Partner, add:
“Dataguard has grown significantly since our first investment, which speaks to the energy and capabilities of the management team. Dataguard has helped create a new service category in the field of data protection and information security. Over the next ten years, companies worldwide will invest tens of billions of dollars in compliance and security to become and remain trusted partners. We were the first institutional investor in Dataguard in 2020 and are very pleased to double our investment now. We want to support the company in continuing to accelerate its growth and expand into additional markets.”
