Growth investment PrivacyPerfect
PrivacyPerfect, a leading European GDPR compliance software vendor, raises capital from Vortex Capital Partners to further fuel international expansion of its business, facilitating European businesses to be able to comply with the GDPR in time. The company, founded in 2013 in the Netherlands, embraces a world in which governments, organisations and companies process personal data in a transparent and responsible way, providing confidence and trust to citizens and consumers alike.
To achieve this goal, PrivacyPerfect builds software that helps organisations to remain compliant with the three mandatory administrations for processing activities, data protection impact assessments and data breaches required by the General Data Protection Regulation (GDPR). The Regulation, which will become fully effective in May 2018, unifies the legal regime for personal data protection in the EU and empowers citizens to request and control their personal data from any organisation.
PrivacyPerfect’s software addresses the many administrative obligations from the new Regulation. Its main characteristics include its easy to use interface available in nine languages, support for workflow between business users and privacy officers, reporting module and in-depth domain model based on close collaboration between legal and IT experts.
PrivacyPerfect current customer base includes leading players in various sectors such as leisure, aviation, retail, banking, insurance, telecom, care & cure and also small and medium sized enterprises (SMEs). The company will use the newly acquired capital to expand operations and product, with the aim to consolidate its leading market position in the Netherlands as well as further its expansion throughout the European market.
Evert de Pender, CEO of PrivacyPerfect, comments on the capital injection: “This investment is very significant for our company, since it will help us deliver a better product to our customers, build new features in our software and keep hiring outstanding people to extend our team. With Vortex Capital Partners we now have an investor on board with deep software sector knowledge and business scaling experience.”
“PrivacyPerfect has an experienced management team and deep legal domain knowledge. The company has structured the complex GDPR compliance requirements into an easy to use on-line software package for the customer. This removes considerable pain points and expenses for the customer. It is exactly the kind of company we would like to partner with – a company that focuses on making it easy for the customer and is in an interesting and growing market”, says Dalip Dewan, Partner at Vortex Capital Partners.