Worldr has secured $11m (£9.7m) in a seed funding round led by Molten Ventures for its messaging data sovereignty software that integrates with Microsoft Teams, Slack and WhatsApp.
Based in London, Worldr has developed software that helps businesses to conform to regulations and security standards from organisations such as the Financial Conduct Authority.
The software takes the data typically stored within a third-party communication tool’s servers so that it belongs to the user.
Max Buchan, CEO of Worldr said: “Data sovereignty has never been more important. The increase in cyberattacks, data localisation requirements, and scrutiny from regulators mean that it is no longer enough to blindly trust that collaboration platforms are keeping business communications secure and compliant.
“Companies rightfully want control of their data to protect themselves against operational, reputational and regulatory risk.”
Seed capital will allow Worldr to open a new office in New York and grow its presence in the Middle East.
Also participating in the seed round were IQ Capital, Playfair Capital, Pretiosum Ventures, Navigate VC, MD One Ventures and various angels.
“Worldr’s unique product set optimises for privacy, security and data protection with seamless integration into existing enterprise software,” said Leonora Ross-Skinner, investor, Molten Ventures.
“Crucially, with Worldr, data is controlled by the enterprise itself, marking an incredibly important step forward in data sovereignty.”
Chris Hurst recently joined the startup as VP of sales in the EMEA area from cybersecurity company Kaspersky.