NOAH London is just around the corner, so we sat down with Europe’s most promising startups to learn more about why their products and services can revolutionize the digital ecosystem.
Today, we’re chatting with Thomas Regier, Co-Founder of Dataguard who will be presenting on our Startup Stage at our conference on 30-31 October at Old Billingsgate.
“Data protection is your right” – Dataguard’s campaign in Berlin
Could you tell us more about DataGuard?
DataGuard is a B2B Privacy-as-a-Service company based in Munich, Germany. We enable over 1,000 SMB and Corporate customers to become and remain privacy compliant. We are the first and only player who productized external data protection officer (DPO) services into a scalable “DPO-as-a-Service” solution. Our hybrid product consisting of privacy software suite and a human supervisor has proven to be a 100% product-market-fit for SMB and Corporates.
When and why did you launch the business?
DataGuard was founded in November 2017 and has been live since March 2018. We care about privacy and people’s personal data and believe that future is private due to GDPR. We believe that companies should be able to process personal data, however, most SMEs and corporates have don’t know how to do so in compliance with the applicable laws and best practice. We started DataGuard to offer them a pragmatic tech solution which enables SMEs and corporates across all industries to become and remain privacy compliant. We focus on the millions of SMB and >10,000 Corporates (in Europe alone) which must become and remain compliant with privacy regulation (GDPR, CCPA, BDSG etc.) and process personal data according to industry standards and best practices.
What are your biggest milestones to date?
We bootstrapped to over 1,000 customers, €4.5m ARR and 100 employees within 18 months of going live. Our customers are satisfied (0.2% monthly churn) and we keep over of 70% gross profit margins. We managed to close strong distribution and technology partnerships such IBM and Deutsche Telekom. We assembled a fantastic team that is passionate about our cause and able to disrupt the privacy market.
What is your target market and how big is it?
Millions of SMEs in Europe and beyond must comply with GDPR and other national and international privacy regulations. Corporates must comply with the same regulation. Our main industries of focus are industrials, tech/software, healthcare and professional services.
Why will you be successful?
We have a strong lead generation and ARR growth, 70% gross margin and excellent unit economics (GM adjusted CAC payback 6-9 months). Our approach has proven to be a 100% product-market-fit for SMEs and corporates. We have assembled the right team to disrupt the market
What is your next big challenge?
Executing on our product and commercial roadmap in Q4, fundraising and tripling the business in 2020 and becoming the #1 privacy company for SMEs and Corporates.
What are you looking for at NOAH?
We are hoping to meet fantastic people whom we can be inspired by and learning from. We would love to talk privacy there with others who care about the space. We hope to fruitful conversations with VCs, other startups and corporates at NOAH in order to generate leads!
Are you planning to raise funds over the coming months and what criteria should your ideal investor have?
Yes, we have been bootstrapping for the first two years and are currently in the process of raising a Series A. We are looking for good people with a kind heart and a sharp mind, credible expertise and track record in B2B, SaaS, Data Privacy, scaling European startups.
Why should potential corporate clients meet you at NOAH?
Our corporate customers very satisfied. Highly complex organizations that operate across multiple jurisdictions and process massive amounts of data have found our solution to be the best path to privacy compliance. We are actively looking to expanding this corporate customer base – and setting up distribution or technology partnerships (wherever it makes sense) along the way. We have corporate customers from almost all sectors such as industrials, TMT, healthcare, financial services and natural resources. Getting privacy compliance right with DataGuard as a strong partner can mitigate financial and reputational risks and even pay off due to increased trust from (and potentially better relationships with) customers, partners, employees and other stakeholders.