Soveren, a London-based startup that automates the detection of privacy risks to help organizations comply with GDPR and CCPA, has launched out of stealth with $6.5 million in seed funding.
The round was led by Firstminute Capital, with participation from Northzone, 11 unicorn founders including Airbnb and Mulesoft, Sir Richard Branson’s family, and a handful of global CEOs including Nikesh Arora, the chairman CEO of Palo Alto Networks.
Soveren will initially use the funds to expand its product team and to invest in sales and marketing.
Company: Soveren, Inc
Raised: $6.5M
Round: Seed Round
Funding Month: November 2021
Lead Investors: Firstminute Capital
Additional Investors: Northzone, 11 unicorn founders including Airbnb, Mulesoft, Sir Richard Branson’s family, and Nikesh Arora
Company Website: https://soveren.io/
Software Category: Data Privacy Management Software
About the Company: Soveren simplifies privacy compliance for Engineering and Security teams by making it easy to implement continuous privacy incident detection and remediation. Soveren's technology fills a void in privacy, strengthening existing security measures and providing protection from financial and brand damage caused by privacy incidents. Soveren’s vision is to facilitate the inevitable shift from privacy statements on paper to privacy as an engineering discipline. Soveren’s technology fills a privacy gap, complementing existing security measures and providing protection from financial and reputational damage caused by data privacy incidents. Soveren’s mission is to empower Engineering and Security teams with automated detection and remediation solutions to manage personal data protection and compliance risks.
Source: https://techcrunch.com/2021/11/30/soveren-seed-gdpr-compliance/