Swedish regtech startup DPOrganizer has announced €3 million in Series A funding.
The round, led by US VC company Paladin Ventures, brings total disclosed investment in the company to €6 million (approximately $7 million in USD). The round, an extension of a previous Series A round in November 2017, was also joined by previous investors Industrifonden, Creades, Inbox Capital, and Soläng Invest.
DPOrganizer, founded in 2015, provides data mapping, visualisation and management services. The company aims to facilitate easy distribution of the data within the company and to third parties, while ensuring regulatory compliance.
“We decided to build the tool I wish I’d had access to in my work as a data protection officer in a growing business,” said co-founder and CEO Egil Bergenlind, whose former positions include data protection lawyer at Bird & Bird, and data protection officer at iZettle.
While DPOrganizer’s services aren’t exclusively focused on GDPR, the amount of attention this regulation has received over the past few years – and particularly in the months leading up to the May 25 ‘deadline’ – means it’s no surprise the company describes itself as helping organisations “grow, and live, with GDPR”. The company, which now has customers in 17 countries, attributed tenfold growth over the past year to GDPR coming into effect.
”An easy-to-use data protection management software is an essential piece of a company’s GDPR compliance toolkit. Paladin is delighted to lead an investment in this rapidly growing company and to support DPOrganizer in their international expansion.” says Nazo Moosa, Senior Strategic Partner at Paladin Capital Group.
According to a press release from DPOrganizer, the new investment will be used for continued product development.
“Joining forces with Paladin Capital Group at this stage of our growth is very timely. With Paladin’s deep industry expertise and international experience, bringing on an global investor of their calibre will be an important step in our mission of reaching more privacy professionals around the world,” said Bergenlind.