DataGuard locks down $61M for data protection as a service
Companies are facing hundreds of millions of dollars in fines these days for failing to comply with data protection and data privacy rules, and that’s driving wave of organizations, and their users, to get more serious about data protection. One of the byproducts of that has been the emergence of new technology to meet that increase in activity.
DataGuard is a Munich-based startup that has leaned into the SaaS-based business model to provide privacy, information security and other data protection as a series of on-demand, cloud-based “as-a-service” tools to small and medium-sized businesses, and today it’s announcing that it has secured $61 million in a Series B round of funding led by Morgan Stanley Expansion Capital to double down on the market.
The investment also includes One Peak, the U.K. VC that led DataGuard’s last fundraise of $20 million in 2020, the startup’s first-ever outside funding. Bastian Nominacher (co-founder / co-CEO of Celonis), Hanno Renner (co-founder / CEO of Personio) and Carsten Thoma (founder of Hybris) are also participating
