19/7/2019 – InCountry, a startup based in the United States that helps international businesses comply with data residency regulations has today secured US$15 million in its Series A round just six months after its launch.
This Series A funding round was led by three new investors based in three different regions of the world including Arbor Ventures of Singapore, Global Founders Capital of Germany, and Mubadala of Abu Dhabi.
Existing investors Caffeinated Capital, Felicis Ventures, Charles River Ventures, and Team Builder Ventures also participated in the round.
Having just launched its stealth mode only two months ago, InCountry was established to help businesses ensure that the data they collect remain within a certain country’s borders. It offers data-residency as a service and follows data sovereignty regulations implemented by more than 80 countries around the world, including Germany, Brazil, China, and India.
“Companies are struggling to comply with GDPR (General Data Protection Regulation), and as more laws are being written every week, it had lead to business-ending consequences for infractions,” said Peter Yared, the Founder and CEO of InCountry.
InCountry currently operates in 65 countries selling software services that help firms adhere to rules requiring personal data to be stored in the country from which it originates.
The firm provides a platform that securely stores, processes, and regulates profile data in its country of origin. This solution, according to the company, is helping multinationals scale by providing easy integration in under ten minutes, with a click of a button.
The startup said its global network includes two top-tier data centers in each country that they operate. The data is encrypted with the latest encryption technology, whereby its customers are the oned retaining the keys.
With the fresh funding, InCountry plans to open regional offices in Singapore, Berlin, and Abu Dhabi, as well as launch its new product, InCountry Border. The product will allow companies to manage regulated data while ensuring the information stays within the country’s borderlines.
This new product will complement the firm’s original offering, InCountry Profile, which is used by companies to ensure they comply with local laws on how a user profile and registration data and information should be stored and maintained.
Following this Series A funding round, Melissa Guzy, the co-founder and managing partner at Arbor Ventures, will be joining InCountry’s board.
“InCountry is the first to provide a comprehensive solution in the cloud that enables companies to operate globally and address data sovereignty. We’re thrilled to partner and support the company’s mission to enable global data compliance for international businesses,” Guzy said.
This news is published on Reuters.