Soveren Lands Star-Studded $6.5M Seed Round, Including 11 Unicorn Founders, to Fight Privacy Incidents
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.
Vincent Touati Tomas
Head of Marketing and Communications, Northzone
+44 7491 758540
About 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
Altasciences Chosen by Virpax Pharmaceuticals, Inc. to Conduct First-in-Human Study of Epoladerm™ for Chronic Pain Associated with Osteoarthritis of the Knee21.1.2022 17:00:00 CET | Press release
Altasciences is pleased to have been chosen by Virpax® Pharmaceuticals, Inc. (“Virpax”) (NASDAQ:VRPX) to conduct a first-in-human study of Epoladerm™ (diclofenac epolamine) for chronic pain associated with osteoarthritis of the knee. This treatment is supplied in a pre-filled device for administration as a topical spray film. The study will be conducted in Q2 2022 at Altasciences’ clinical pharmacology unit in Montreal, Canada. “We look forward to working with Altasciences to accelerate the development of this analgesic treatment and provide robust data in support of the 505(b)(2) FDA approval pathway,” stated Virpax’s Chairman & CEO, Anthony P. Mack. Virpax’s proprietary technology provides a pre-filled canister for the therapeutic application of a clear, fast-drying spray film that is thinner than a standard liquid bandage. This technology offers convenience and eliminates the need for messy creams or gels. Altasciences leverages decades of experience conducting first-in-human clinic
OMRON Healthcare Remote Patient Monitoring Services Win “Best of” Honors at CES 202221.1.2022 16:21:00 CET | Press release
OMRON Healthcare, Inc., the global leader in remote blood pressure monitoring and personal health technology, spotlighted its new remote patient monitoring services at the 2022 Consumer Electronics Show (CES) and won “Best of” honors for its offerings in the U.K. and U.S: Hypertension Plus by OMRON in the U.K. was selected as a TWICE Picks Awards winner for the 2022 TWICE, Residential Systems and TechRadar Pro Picks Awards VitalSight™ by OMRON in the U.S. was recognised as an INSIDER “Best of” CES selection These remote patient monitoring services gained recognition at the world’s largest innovation show as breakthrough health technology designed to foster greater active health condition management, strengthen the patient-physician connection, and guide behavior change to reduce health risks, while advancing the company’s mission of Going for Zero heart attacks and strokes. “OMRON developed Hypertension Plus as the first step toward transforming chronic care in the U.K., while VitalSig
Schlumberger Announces Fourth-Quarter and Full-Year 2021 Results21.1.2022 12:50:00 CET | Press release
Schlumberger Limited (NYSE: SLB) today reported results for the fourth-quarter and full-year 2021. Fourth-Quarter Results (Stated in millions, except per share amounts)Three Months EndedChangeDec. 31, 2021Sept. 30, 2021Dec. 31, 2020SequentialYear-on-yearRevenue* $6,225 $5,847 $5,532 6% 13% Income before taxes - GAAP basis $755 $691 $471 9% 60% Net income - GAAP basis $601 $550 $374 9% 61% Diluted EPS - GAAP basis $0.42 $0.39 $0.27 8% 56% Adjusted EBITDA** $1,381 $1,296 $1,112 7% 24% Adjusted EBITDA margin** 22.2% 22.2% 20.1% 2 bps 208 bps Pretax segment operating income** $986 $908 $654 9% 51% Pretax segment operating margin** 15.8% 15.5% 11.8% 31 bps 401 bps Net income, excluding charges & credits** $587 $514 $309 14% 90% Diluted EPS, excluding charges & credits** $0.41 $0.36 $0.22 14% 86% Revenue by Geography International $4,898 $4,675 $4,343 5% 13% North America* 1,281 1,129 1,167 13% 10% Other 46 43 22 n/m n/m $6,225 $5,847 $5,532 6% 13% *Schlumberger divested certain businesses i
ZuluTrade - World’s Largest Social Trading Platform Joins the Finvasia Group21.1.2022 12:08:00 CET | Press release
ZuluTrade is strongly positioned to become the biggest and the largest broker neutral social trading platform with acquisition by Finvasia Group. 2022 will see ZuluTrade strengthening its current capabilities and widen its product line by venturing into different markets and financial instruments. The expansion will include contemporary asset classes like cryptocurrencies and traditional asset classes like stocks and bonds. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220120005780/en/ ZuluTrade - World’s Largest Social Trading Platform Joins the Finvasia Group (Graphic: Business Wire) ZuluTrade has been at the forefront of copy trading for more than a decade and has helped over a million investors across more than 100 countries trade a volume of over USD 2 trillion. ZuluTrade 2.0 Future plans include launching a more engaging social investing platform with enhanced social and technology features, built on ZuluTrade’s curre
Ipsen Nominates Karen Witts as New Independent Board Member21.1.2022 07:00:00 CET | Press release
Regulatory News: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220120006035/en/ Karen Witts (Photo: Business Wire) Ipsen (Euronext: IPN; ADR: IPSEY) announced today the nomination of Karen Witts to its Board of Directors as independent member. Karen Witts was Group CFO at Compass Group Plc until October 2021. Compass is the world’s leading food service company, operating in 43 countries and employing more than 500k people. She was responsible for corporate strategy and planning, business performance management and reporting, financial reporting and control, tax and treasury activities, M&A, internal audit and enterprise risk management, investor relations, and led the digital and technology function. Prior to this, Karen was Group CFO at Kingfisher Plc, the international home improvement company. She has also held various senior strategic finance positions at companies including Vodafone Group Services Ltd, and BT Plc. She
Peru Is Presenting Itself at FITUR 2022 as a Bio-safe Destination, Committed to Outdoor Experiences21.1.2022 02:48:00 CET | Press release
Peru is in attendance at the 42nd edition of FITUR 2022 to position itself as a safe and ready destination for international travellers, motivating them to rediscover the South American country, reported the Comisión de Promoción del Perú para la Exportación y el Turismo [Peruvian Export and Tourism Promotion Commission] (PROMPERÚ). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220119005812/en/ Inauguration of the Peru stand at FITUR 2022 by the executive president of PROMPERÚ, Amora Carbajal. ©PROMPERÚ In line with its promotion and recovery strategy, Peru is presenting a delegation made up of 19 co-exhibitors in order to show off the best of its tourist offering in the nature, adventure and culture segments. Likewise, it announced its collaboration with the Asociación Española de Agencias de Incentivos – IdeMICE, in order to enhance the attributes of the destination in this segment. In addition, the executive president of
McAfee Continues to Provide Leading Online Protection to Consumers21.1.2022 02:40:00 CET | Press release
Today, McAfee Corp. (NASDAQ: MCFE, “McAfee”), a global leader in online protection, provided an update regarding its pure-play consumer offering and the previously announced divestiture of its enterprise business. In July 2021, McAfee completed the sale of its enterprise business. This transaction allowed McAfee to singularly focus on its consumer business and accelerate its strategy to be the leader in online protection for consumers. “McAfee continues to safeguard the privacy, security and identity of our consumers as the digital world evolves rapidly,” said Gagan Singh, Executive Vice President & Chief Revenue and Product Officer, McAfee. “We continue to stand firm that meaningful protection is a personal right for consumers and have recently rolled out major updates and industry firsts, including McAfee Total Protection and Protection Score, that look out for consumers online, including their privacy and identity.” The McAfee Enterprise business was purchased by Symphony Technology
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