COPENHAGEN, Denmark--(BUSINESS WIRE)--The fast-growing Danish company ComplyCloud, which has built its own digital software lawyer, has now landed a multimillion investment from SEED Capital. ComplyCloud’s solution automates complex compliance work, in particular concerning the GDPR. The company – which has returned three-figure growth rates each year since its founding – is now ready to leap out into the wider world.
The Danish tech company ComplyCloud has just received a significant capital injection of 4.5 million Euro from SEED Capital.
“We have seen considerable interest from several venture capital firms and we are incredibly pleased that SEED Capital has joined our circle of owners. They hold deep insights into the journey that lies ahead of us and good values which harmonise well with our own,” says founder and CEO Martin Folke Vasehus.
The investment will help the Danish legal tech company to scale up their business beyond Denmark’s borders, to refine their technology and to expand their workforce. At 4.5 million Euro, the investment is the largest seed investment in legal tech ever to be made in Denmark and the Nordic Region, according to Crunchbase.
ComplyCloud has built a lawyer out of algorithms. Their digital lawyer makes it easy for companies to comply with complex legal requirements and to manage their administrative burden. Simply put, it allows companies to put complicated rules within areas such as data protection and GDPR entirely on autopilot.
A unique solution with global potential
SEED Capital is known for having spotted and invested 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 both in a Danish and an international perspective. It has very strong, global potential. At the same time, ComplyCloud has also secured exceptional three-figure annual growth rates based on organic growth, and so to that extent we are very much looking forward to the work ahead,” says Peter Egehoved, partner at SEED Capital.
Founded in 2017 by Martin Folke Vasehus and Hans Peter Vith, ComplyCloud generated turnover of DKK 7.5 million in 2020 and currently employees 50 staff members. Turnover for 2021 is estimated at more than DKK 20 million before accrual.
Read more at www.complycloud.com
About Seed Capital
Seed Capital is the most successful tech investor in Denmark at the seed stage. With more than 20 years’ experience and a solid portfolio within the financing of companies from the seed stage to the top of the league tables, Seed has helped many of Denmark’s best tech start-ups to grow and attain commercial success. Seed places its focus on adept entrepreneurs in Denmark behind innovative technology-based companies with global potential. Some of the companies that Seed has financed include: Trustpilot, Vivino, Templafy, Lunar, Dixa, Veo, Forecast, Mofibo and Endomondo. Read more at: www.seedcapital.dk.