Munich-based Regtech firm DataGuard, which provides what it refers to as the General Data Protection Regulation (GDPR)-as-a-Service, has secured $20 million in capital through a Series A investment round, which was led by One Peak Partners.
DataGuard assists firms with ensuring that their business complies with the relevant regional regulatory guidelines. The Regtech company services firms operating in the European Union and other jurisdictions.
DataGuard notes that its platform provides recommendations about how businesses can improve their current IT infrastructure, in order to ensure that it adheres to the appropriate regulatory requirements.
The company says that it intends to use the funds raised to expand its business operations across Europe and North and South America. The company is also planning to make enhancements to its existing platform.
Established in 2017, DataGuard primarily serves as a privacy company. Since its launch, the Regtech has onboarded over 1,000 clients. It now plans to sign up more customers from the “millions of companies striving to comply with privacy regulation such as GDPR or California Consumer Privacy Act (CCPA).”
Kivanc Semen, co-founder of DataGuard, said that the company will use the capital acquired to work on achieving the objectives outlined in its product roadmap. They include increasing automation across its privacy software products and the development of various other services.
As noted on the company’s official website:
“DataGuard is your partner for all data privacy related questions and challenges. Stand ready to report to regulators, answer to data subjects, and fulfill obligations to stakeholders.”
The company’s platform and team of data protection professionals “enable structured privacy management” through continuous monitoring of users’ processing activities.
The DataGuard team offers legal expertise, helps with step-by-step implementation, and aims to simplify the GDPR into a set of accessible steps.
