DPOnet, a startup providing a Software as a Service (SaaS) platform that implements and manages the process of complying with the General Data Protection Law (LGPD), has announced that it has raised R$6 million, in a seed round from investors including startup accelerator Leavening, family offices and LW Ventures, Locaweb's Corporate Venture Capital fund.
The startup created a scalable SaaS product in a sector that was strictly linked to services and they are experiencing significant growth. "We found our first customer in August 2020 and ended that year with 80 clients. Today, we have over 1,500 companies in more than 70 different industries that, via the concept of SaaS with a third-party DPO (BPO), are prepared to meet the demands of the National Data Protection Agency (ANPD) and of data subjects", said Marcelo Martins, the startup's co-founder and CRO.
According to a survey by NIC.br, almost two years after LGPD came into force, only 17% of Brazilian companies employ data protection officers (DPOs). This means that managing LGPD progress for organizations of all types must be done. The Global Digital Trust Insights Survey estimates that 83% of Brazilian companies will increase their investment in cyber security this year.
"The new resources will facilitate vertical expansion in markets that offer specialized services for the LGPD journey, such as cyber security. We want our customers to buy qualified services from one place", he added.
"DPOnet reduces up to 90% of investments and time spent on compliance with, and management of, data protection and privacy. Additionally, our courses, delivered in partnership with universities, are meeting the goal of democratizing the LGPD. The new investment will expand our activity at that level", he concluded.