Danish start-up gets funding of 33.5 million DKK from leading seed investor
SaaS-company, ComplyCloud, known for having built a software-based lawyer, announces that SEED Capital has made an investment worth 33.5 million DKK in its business. The ComplyCloud solution digitizes and automates complex legal compliance work, especially related to the GDPR. ComplyCloud has delivered three-digits growth rates every year since its foundation in 2017, and is now ready to expand internationally.
Danish IT company, ComplyCloud, announces it has received an investment of 33.5 million DKK from SEED Capital.
“We have been approached by several venture capital companies over the past months, and we are extremely happy to welcome SEED Capital as part of our company. They come with a second-to-none insight into the journey we are about to embark on, and we are fully committed to each others’ core values,” says founder and CEO, Martin Folke Vasehus, ComplyCloud.
The SEED Capital investment will empower the Danish legal tech company to scale its business internationally, refine its technology stack and expand its number of employees significantly. According to Crunchbase, the 33,5 million DKK investment is the largest ever seed investment to be made in legaltech, not only in Denmark, but also the Nordics.
ComplyCloud has built a lawyer based on algorithms. The digital lawyer makes it easy for companies to comply with complex legislation and to handle the increasingly heavy adminstration burden linked to compliance. In other words, ComplyCloud allows companies to put complicated rules within data protection and the GDPR on autoilot.
Unique solution with a global potential
SEED Capital is well-known for its ability to identify and invest in some of Denmark’s most innovative, scalable and profitable tech companies, such as Lunar, Trustpilot, Dixa, Vivino, and Endomondo.
“ComplyCloud’s solution is unique – seen from both a Danish and an international perspective. It has a great, global potential. And on a quite extraordinary note, ComplyCloud has delivered an annual three-digits organic growth rate. We are definitely looking forward to the future collaboration,” says Peter Egehoved, partner, SEED Capital.
