Dataships, an Irish RegTech specializing in automating GDPR and CCPA compliance for eCommerce platforms, has closed a $7m Series A funding round.
According to TechEU, this significant financial boost was led by Osage Venture Partners, alongside contributions from Lavrock Ventures and the Urban Innovation Fund, marking a pivotal step in the company’s journey since its founding in 2019.
Originally established as a compliance technology enterprise, Dataships has evolved to focus more broadly on compliance management amid growing customer acquisition costs and stringent privacy regulations. This pivot reflects an increasing demand from eCommerce merchants for scalable and effective growth strategies that also ensure rigorous compliance with privacy laws.
The funds from this Series A round are earmarked for several strategic initiatives. Dataships plans to channel these resources into marketing efforts, aiming to drive revenue growth significantly. Additionally, the investment will fuel product innovation, allowing the company to enhance its offerings and cater to the dynamic needs of its clients.
Further investments will be directed towards expanding the market reach of Dataships and bolstering customer retention. By scaling its engineering and support teams, Dataships aims to better serve its rapidly expanding customer base, ensuring that they not only meet regulatory requirements but also achieve optimal market engagement.
Ryan McErlane, co-founder and co-CEO of Dataships, emphasized the transformative impact of their solutions on eCommerce strategies: “Since focusing on the eCommerce market, we’ve discovered something extraordinary; when done right, compliance isn’t just about protection, it’s about growth.”
Michael Storan also highlighted the strategic value of their platform: “In today’s landscape where acquisition costs are still rising, personalization is expected, and privacy is a real concern from shoppers, merchants need more than just tactics, they need a systematic approach to expand reach and more meaningfully engage their highest-value audience, purchasers. We’re building Dataships to be the essential growth platform for modern eCommerce brands.”
This Series A funding follows a previous undisclosed funding round, further solidifying Dataships’ financial foundation and strategic direction.
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