Business Wire

Soveren Lands Star-Studded $6.5M Seed Round, Including 11 Unicorn Founders, to Fight Privacy Incidents

Share

Today Soveren announced a $6.5M seed round, led by firstminute capital and joined by Northzone, 11 unicorn founders,and a group of global CEOs. The founders of Airbnb, Datadog, MuleSoft, Snyk, and Color invested alongside Sir Richard Branson’s family, the Chairman CEO of Palo Alto Networks, and others.

Soveren is addressing one of the key technology challenges of the decade: privacy and compliance for Engineering teams. Their product provides CTOs, CISOs, and Privacy Engineers with easy-to-use tools to detect and address privacy gaps. The calibre of their seed round speaks to the pedigree of founders, and to the size of the task ahead,” said Spencer Crawley, Co-Founding General Partner of firstminute capital.

Holly Branson, Virgin’s Chief Purpose and Vision Officer said: “At Virgin, our customers mean everything to us and treating them with respect and with world class service is at the core of the entire Virgin ethos. The way we handle their personal information is an important extension of this and something we take very seriously. As a family we are delighted to be investors in Soveren, whose mission and innovative technology will enable many more businesses to become better stewards of personal data.”

10 million companies globally are at risk of violating GDPR and other regulatory obligations because of their failure to detect and resolve privacyincidents and risks. Security software successfully addresses security threats, but has a limited impact on addressing privacy challenges. This is because — unlike other confidential data that can be easily isolated and sealed — personal data is actually meant to be accessed, used, and shared in-day-to-day business operations.

Soveren believes that, if security teaches us anything, privacy has to be embraced by engineering because legal measures alone can’t guarantee compliance. We are already witnessing that Engineering and Security teams in many companies are joining forces with Privacy professionals. However, there is a significant need for purpose-built privacytools in order to implement continuous and automated privacy incident detection and remediation.

“Privacy is the new Security. Engineering and Security teams demand automated, functional, and easy-to-install privacy solutions as their bandwidth for anything else is severely limited. Soveren provides the much needed simplicity in privacy compliance,” stated Peter Fedchenkov, Founder and Co-CEO of Soveren.

Soveren's technology fills a void in Privacy. It strengthens existing security measures and provides protection from financial and brand damage caused by privacy incidents. Privacy incidents include allowing an undetected API to access personal data or storing personal data in systems which were not designed to keep it safe. These incidents and others are fully preventable with Soveren.

Soveren analyzes real-time data flows inside the company’s infrastructure to discover personal data and detect privacy risks. Soveren is taking the lead on providing CTOs, CISOs, and Privacy Engineers with simple yet effective solutions to resolve privacy incidents via actionable intelligence into the personal data used in day-to-day business operations.

"From my experience working with MuleSoft customers, I saw a clear and pressing need to solve the data usage and risk problem of sprawling datasets, and not knowing what was where and how data got used," said Ross Mason, Founder of MuleSoft and Dig Ventures. "Soveren is taking a unique approach to this. It's built from the ground up to listen, learn and report on data inflight without having to access existing systems or personal data."

Soveren has secured 10 lighthouse customers across software, e-commerce, travel, fintech, and healthcare in North America and Europe.

“Frankly, privacy is no longer a question of just GDPR or CCPA compliance. Privacy incidents damage your brand, growth, and ability to attract capital. With Soveren it just got easier to protect yourself from privacy incidents and risks,” noted Alex Bouaziz, Co-Founder & CEO at Deel.

“The spread of personal data across a company’s applications, services, and APIs has become near impossible to track. Soveren's technological edge results in the ability to easily discover personal data, identify privacy risks, and suggest effective control measures,” noted Sergey Barysiuk, Founder & CTO of PandaDoc.

Soveren’s vision is to facilitate the inevitable shift from privacy statements on paper to privacy as an engineering discipline. “I have always believed that developers will eventually assume responsibility for privacy within organizations. Soveren provides them with the monitoring and control tools to get this job done,” said Guy Podjarny, Founder of Snyk.

Soveren is easy to deploy and free to try. To learn more, visit https://soveren.io/.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Vincent Touati Tomas
Head of Marketing and Communications, Northzone
vincent@northzone.com
+44 7491 758540

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

BIOCORP Obtains 510(k) FDA Clearance for Mallya ®7.12.2022 07:30:00 CET | Press release

Regulatory News: BIOCORP (FR0012788065 – ALCOR / Eligible PEA‐PME), a French company specialized in the design, development, and manufacturing of innovative medical devices, announced today that they have received 510(K) clearance from the U.S. Food & Drug Administration (FDA) to market Mallya, its smart medical device that connects insulin pens. Eric Dessertenne, CEO of BIOCORP, said: "This approval is a major achievement for BIOCORP and all of our employees who have been heavily involved in this regulatory process. This approval marks a historic achievement for BIOCORP as it allows the commercial launch of our Mallya device in the United States and illustrates BIOCORP's ability to meet the highest regulatory requirements. This news has been eagerly awaited by all our industry partners to commercialize Mallya in the world's largest diabetes market and we are delighted that U.S. patients will soon be able to benefit from Mallya's services. This regulatory milestone will have a positive

Delta-Fly Pharma, Inc. is granted Orphan Drug Designation by US Food and Drug Administration for DFP-109177.12.2022 07:11:00 CET | Press release

Delta-Fly Pharma, Inc. announces that DFP-10917, a leading pipeline of the company, is granted Orphan Drug Designation (ODD) by US Food and Drug Administration (FDA) for the treatment of Acute Myeloid Leukemia (AML). Be given to ODD, Delta-Fly Pharma, Inc. can be entitled to seven extra years of marketing exclusivity and receive some benefits such as R&D rebate by getting approval. DFP-10917 is an anti-cancer agent in development for the treatment of patients with Refractory/Relapsed AML. A Phase 3 clinical study has been underway at MD Anderson Cancer Center in Texas and other major sites of Hematologic Cancer Treatment in USA. The company expects to complete the patients’ enrollment plan soon. Delta-Fly Pharma, Inc. focuses not only on cancer itself but on the whole conditions of cancer patients, and aims to deliver medicines that are recommendable for cancer patients and their families. Company profile Company name Delta-Fly Pharma, Inc. [Tokyo:4598] Capital 3352 million Japanese Ye

SLB Announces Pricing of Debt Tender Offer6.12.2022 22:05:00 CET | Press release

SLB (NYSE: SLB) today announced the consideration payable in connection with the previously announced offer (the “Offer”) by Schlumberger Holdings Corporation, an indirect wholly-owned subsidiary of SLB (“SHC”), to purchase for cash up to a certain amount of the notes listed in the table below (the “Notes”), pursuant to the terms and subject to the conditions set forth in the offer to purchase, dated November 21, 2022 (as may be amended or supplemented from time to time, the “Offer to Purchase”). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase. Title of Security CUSIP Numbers Acceptance Priority Level(1) Principal Amount Outstanding Principal Amount to be Purchased Early Tender Premium(1) Reference Security Bloomberg Reference Page Reference Yield Fixed Spread (basis points) Total Consideration (1)(2) 3.750% Senior Notes due 2024 806851AJ0 (144A) / U8066LAG9 (Reg S) 1 $750,000,000 $394,869,000 $30 2.500% U.S. Treasur

Media Alert: Prosimo to Exhibit at the Gartner® IOCS Conference 2022 and Present the Power of Single Architecture for Simplifying Multicloud Networking6.12.2022 17:24:00 CET | Press release

Prosimo, the Application Experience Infrastructure company, is demonstrating (Booth #511) its full-stack solution for simplifying multi-cloud networking at Gartner IT Infrastructure Operations & Cloud Strategies conference, taking place December 6-8th in Las Vegas. The company plans to present a customer case example of the advantages of using a single network infrastructure for its cloud computing services. The Gartner Market Guide for Multicloud Networking Software encourages I&O leaders responsible for cloud and edge infrastructure to “prefer the native capabilities of the cloud providers when starting out, and avoid forklifting data center networking designs and vendors in the public cloud, because this will lead to integration and cost inefficiencies.”1 And to “invest in MCNS when a consistent set of broader, “full-stack” Level 3 through Level 7 networking and network security capabilities (e.g., routing, DNS, CDN, WAF, firewall, and observability) via a single management platform

Fortius Metals Raises Seed Round of $2M from AM Ventures to Bring Advanced Metal 3D Printing to the Aerospace Industry6.12.2022 17:00:00 CET | Press release

Fortius Metals, Inc., an innovative metal 3D printing company, has announced today that it has closed on a priced seed financing round with AM Ventures. The $2M round will be used to scale manufacturing capacity, grow the company and accelerate its go-to-market strategy. Fortius Metals is a large format additive manufacturing company that specializes in advanced materials to help customers develop solutions previously not possible with robotic 3D printing. Fortius Metals’ patented technology will enable welding and 3D wire fabrication using high performance metal alloys to meet the exacting demands of aerospace customers and robotic welding fabricators. AM Ventures, the foremost venture capital firm for the additive manufacturing sector, focuses solely on startups built around industrial-grade 3D printing offerings, including hardware, software, materials, and applications. AM Ventures’ portfolio includes an elite group of 17 companies engaged in 3D printing, out of over 2,400 start-up

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom