The funding round of the week is coming from the Nordic VC firm Industrifonden, who invested 3M euros in Swedish startup DPOrganizer.
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.
With less than 6 months to go, previous studies from Cyber Governance Health Check have shown that only 6% of the UK largest companies are completely prepared for the new regulations. Another study from Sweden indicates that 92 % of European companies are not at all prepared for GDPR.
The CEO of the company told us that the new regulation 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.
DPOrganizer was co-founded by Egil Bergenlind, previous Chief Compliance Officer at iZettle and Sebastian Norling, previously from Viaplay.
Due to the rapidly growing GDPR market, DPOrganizer has grown tenfold over the last year, both in numbers of employees and in revenue. The company serves customers in Europe, Asia and the US. It is headquartered in Stockholm, with sales offices in London and Amsterdam.