Soveren, a London, UK-based tech driven privacy management company, raised $6.5M in seed funding.
The round was led by firstminute capital with participation from Dig Ventures, LocalGlobe, Northzone, Ross Mason, Olivier Pomel, Guy Podjarny, Nathan Blecharczyk, Nikesh Arora, Elad Gil, Brendon Lynch, Tom Killalea, Jack Altman and Sir Richard Branson’s family.
The company intends to use the funds to expand operations and its business reach.
Led by Peter Fedchenkov, Soveren provides a SaaS platform that empower engineering and security teams with automated detection and remediation solutions to manage personal data protection and compliance risks. The system discovers personal data and detects privacy risks by analyzing real-time data flows inside the company’s infrastructure. It strengthens existing security measures and provides protection from financial and brand damage caused by privacy incidents such as an undetected API to access personal data or storing personal data in systems which were not designed to keep it safe.
So far, the company has secured 10 customers across software, e-commerce, travel, fintech, and healthcare in North America and Europe.