From left: Helen Norris, Kernel Capital; Dr John Ghent, Sytorus; Peter Lennox, Enterprise Ireland; and Donal Duffy, Bank of Ireland. Image: Kernel Capital
Irish company behind PrivacyEngine has GDPR regulation covered.
The only certainty about mounting data and privacy breaches is that they will only lead to more regulation on top of stringent legislation such as the EU’s GDPR.
Don’t worry, though – an Irish software-as-a-service (SaaS) player called Sytorus is on the case.
The company has just raised €1.7m in investment from the Bank of Ireland Kernel Capital Early and Growth Stage Funds.
‘At Sytorus, we believe that data protection practitioners deserve the best tools to do their job’
– JOHN GHENT
Established by CEO Dr John Ghent, chief operating officer Mike Morrissey and chief product officer Hugh Jones in 2013, Sytorus’ flagship software, PrivacyEngine, is a dynamic GDPR and data protection SaaS product. It provides end-to-end data protection solutions to corporate clients.
A SaaS-y response to the GDPR challenge
PrivacyEngine is designed to provide organisations with a complete capability, which ensures they are able to maintain compliance with the GDPR with a simple but comprehensive suite of functionality.
Designed by data protection practitioners, PrivacyEngine aims to take away the headache and complexity of compliance, and transform it into a clear set of actionable results that are evidence-based.
Sytorus does this by ensuring clients have everything they need in one place, including risk assessments, mandatory logs, documentation management, online training and real-time support from experts.
“At Sytorus, we believe that data protection practitioners deserve the best tools to do their job,” said Ghent.
“This investment from the Bank of Ireland Kernel Capital Growth Funds, Enterprise Ireland and our private investors will help us to deliver these tools to data protection leaders across the EU.”
With more than 50 staff, Sytorus is scaling rapidly and today has more than 300 hundred fee-paying corporate clients worldwide. Sytorus has opened offices in Stockholm and London, and this latest investment will facilitate the opening of a new office in Frankfurt.
“GDPR represents the biggest overhaul of the world’s privacy rules since the birth of the internet,” explained Orla Rimmington, partner at Kernel Capital.
“Kernel Capital are delighted to announce details of this significant investment, which will drive the business to new frontiers and accelerate their growth into several new markets.”
