Soveren exits stealth mode, raises $6.5M seed round
London-based Soveren recently came out of stealth mode and raised $6.5 million in seed funding led by Firstminute Capital with participation from Northzone, along with a clutch of other investors.
“Security software successfully addresses security threats, but has a limited impact on addressing privacy challenges,” said Soveren founder and co-CEO Peter Fedchenkov. “This is because, unlike other confidential data that can be easily isolated, personal data is actually meant to be accessed, used, and shared in day-to-day business operations. We believe that privacy is the new security because it demands the same automated, continuous protection measures.”
The company analyzes real-time data inside an organizations’ infrastructure to discover personal data and detect privacy risks to make it easier for its clients to recognize and address privacy gaps.
“We haven’t actually done anything on the marketing side yet, so we definitely want to double-down on that,” stated Peter, commenting on the company’s plans for the capital raised.
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