heyData, a German compliance startup, has secured €3.3m from a seed funding round headed by Ten VC.
The round also saw participation from existing investors Patrice Deckert, Stefan Tietze, Picea Capital, Martin Ostermayer and Dirk Freise amongst others.
heyData has developed a SaaS application that reduces compliance issues, such as data protection, for enterprises. Customers of the company include Vytal, Hive Logistics, Everdrop and Numa.
The firm said the digital platform serves as the centrepiece for implementing compliance topics.
Whether this involves integrations into the tech stack or the training of employees to raise awareness this is determined by the company itself based on its requirements.
heyData plans to use the new capital for product expansion and venturing into markets. In addition, the team – which currently has a headcount of 34 – is set to be expanded.
heyData co-founder Miloš Djurdjević said despite challenging market conditions, he is confident against the backdrop of the completed financing round.
He added, “In the last 12 months we have proven that our compliance solution strikes a nerve with SMEs! This investment round not only reflects the confidence in our product & team but also shows that we are on the right track with our vision.”
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