DPOrganizer closes 3 MEUR Series A round led by Industrifonden
DPOrganizer raises a 3 MEUR Series A investment round led by Nordic VC firm Industrifonden. Other investors include Creades, existing owners Inbox Capital, Soläng Invest and private investors. The financing will be used to ramp up global expansion, keep strengthening the product and grow the tech team in Stockholm.
Sweden-based regulation tech company DPOrganizer offers a Saas tool that helps businesses map, visualize, report on and manage their personal data processing. The software helps businesses comply with the General Data Protection Regulation (GDPR) which comes into effect on May 25, 2018. The regulation affects any business handling personal data of European citizens. Due to the rapidly growing GDPR market, DPOrganizer has grown tenfold over the last year, both in number of employees and in revenue, and serves customers in Europe, Asia and the US.
“It has been important for us to find investors who truly understand the craft of building a business. We are very happy to get Industrifonden and Creades onboard, both of whom share our vision and can help us grow smarter and faster. Hundreds of thousands of businesses will be affected by the GDPR, and we now stand better positioned to become an important player in the market,” says Egil Bergenlind, CEO and founder of DPOganizer.
With less than 6 months to go, previous studies have shown that only 6% of UK FTSE 350 companies are completely prepared for the GDPR. A Swedish study indicates that 92 % of European companies are not at all prepared for GDPR.
“GDPR is not only about compliance, it’s about handling personal data in a way that your customers would expect you to. In short, it’s about trust. With the deadline approaching, we find that more businesses are starting to do the work needed and understand the reasons behind having to do it,” says Egil.
”We’re thrilled to join forces with DPOrganizer to meet big challenges on many markets. We are very impressed by the company’s growth so far and their strong product. What convinces us the most though is how much their customers love the product. We believe DPOrganizer has the potential to become a market leader,” says Sara Resvik, Industrifonden tech investor, who also joins the company’s board of directors.
Data Protection Management Software company DPOrganizer was founded in Stockholm in 2015 by Egil Bergenlind, previous Chief Compliance Officer at iZettle. DPOrganizer offers a Saas solution to help businesses live, and grow, with GDPR. The company is headquartered in Stockholm, with sales offices in London and Amsterdam. Other co-founders include Sebastian Norling, CTO, previously from Viaplay, Head of Design Andreas Yannelos, previous product owner at Radioplay within Bauer Media, and Head of Sales Lelle Cryssanthander, with a background as CEO of Wineasy within Song Networks Group. www.dporganizer.com
Industrifonden is a Nordic venture capital investor, partnering with technology and life science companies with global potential. Industrifonden-backed companies include: Qlik, Oatly, Soundtrack Your Brand, Adfenix och Fishbrain. www.industrifonden.com.
Egil Bergenlind, CEO and Founder, DPOrganizer
+46 707 25 97 09
Sara Resvik, Investment Manager and Investment Lead for DPOrganizer, Industrifonden
+46 708 47 99 84