Sypher, a Romanian company that has developed a GDPR conformity platform, managed to raise a EUR 300,000 financing less than a year since its launch.
Local investment fund GapMinder and a private investor provided the financing, Startupcafe.ro reported.
The company’s Sypher Suite platform helps companies manage the process of obtaining and keeping their conformity with the GDPR regulation on the protection of personal data.
The company, founded by local entrepreneurs Cristian Badea and Mihai Ghita, is now working with some of the biggest companies in Romania in sectors such as insurance, retail and telecommunications.
Sypher’s founders now plan to develop their platform and prepare to enter new markets in Europe and US.