heyData closes Series A financing of 16.5 million US dollars

The Berlin-based compliance software provider heyData has closed a financing round of 16.5 million US dollars. The round is led by Riverside Acceleration Capital (RAC), a growth capital arm of US private equity investor The Riverside Company. With the fresh capital, heyData intends to expand the functionality of its platform and accelerate its growth in Europe.

Expanding the platform beyond data protection

heyData is developing an all-in-one compliance platform for small and medium-sized companies, which has so far focused primarily on data protection and privacy compliance. In future, the solution is to be significantly expanded in the direction of IT security. This is due to increasing regulatory requirements in Europe and growing IT security risks, including the increased use of AI and a growing threat situation.

heyData's product approach aims to translate complex regulatory requirements into modular and easy-to-use software. Processes such as digital data protection audits, risk analyses and compliance documentation can thus be automated and integrated into existing workflows.

Series A as the next step in growth

Founded in Berlin in 2020, the company received seed funding of around 3.3 million euros in 2022 to realize the market launch of the platform. heyData now counts more than 2,000 small and medium-sized companies among its customers.

The current Series A round marks the next step in the company's growth. Originally, major financing was not planned until the second half of 2026. However, due to its above-average growth and market potential, the company decided to bring the round forward.

Focus on European expansion

In addition to product expansion, heyData plans to further expand its geographical presence in Europe. The company currently has a stable customer base, particularly in the DACH region. This base is to be further strengthened and gradually expanded to other European markets.