heyData closes EUR 3,3 million seed round.
The Berlin compliance startup heyData today announced the conclusion of a seed financing of 3,3 million euros. The round was led by Ten VC, with existing investors Patrice Deckert, Stefan Tietze and Picea Capital also taking part again.
The fresh capital is to be used for product development and opening up new markets. In addition, the team, which currently comprises 34 employees, is to be expanded. Co-founder Miloš Djurdjević is optimistic about the completed financing round: "We have completed a financing round at a difficult time for startups because our investors trust in us and in the vision we have with heyData."
heyData offers data protection-as-a-service, thereby reducing compliance problems for companies. Customers include Everdrop, Vytal and Numa. The digital platform enables customers to train and sensitize their employees, automatically generate necessary documents and save them in one place, and conclude necessary agreements with employees digitally. Companies and organizations not only protect themselves, strengthen their reputation among various stakeholders, but also free up capacities for growth.
We are very pleased to have invested in heyData. When we first met the team we were very impressed with their customer base, with more than 400 customers in multiple countries and how reliable their service is in such a business critical area as data backup.
The market forecasts for compliance services read promisingly. Annual growth of at least 14% is expected, which would mean a market size of EUR 2028 billion in 100. “We are very pleased to have invested in heyData. When we first met the team we were very impressed with their customer base, with more than 400 customers in multiple countries, and how reliable their service is in an area as business critical as data backup. The products in their pipeline give SMBs the opportunity to access solutions with a high level of quality and efficiency that previously only large companies could afford. We look forward to supporting the company's vision to become the world's leading 'Compliance-as-a-Service' platform” said Benjamin Patterson, Partner Ten VC.
At a difficult time for startups, we have completed a round of financing because our investors trust in us and in the vision we have with heyData.
heyData was founded in 2020 and is today the leading compliance startup headquartered in Berlin. With their digital all-in-1 platform solution for SMEs, they relieve organizations and companies in managing their data protection and compliance requirements. First and foremost, the digital platform makes it possible to integrate into the customer's technical infrastructure and, in further steps, to train and sensitize your employees, to automatically generate necessary documents and save them in one place, and to conclude necessary agreements with employees digitally. heyData's core is the combination of technology and in-depth legal expertise to save time, capacity and costs for SMEs in the long term.
Ten VC is a US-based early stage investor whose founders have over 15 years of experience investing in seed-stage breakthrough technologies through traditional and corporate ventures. The focus is on investing in outstanding founders developing disruptive technologies that can evolve into transformative platforms.
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