Danish SaaS-company, ComplyCloud, known for having built a software-based GDPR-platform lawyer business, received shortly after TechBBQ 2021 an investment worth 33.5 million DKK from SEED Capital.

May 13, 2022 / 5 min. read

ComplyCloud’s funding round of 33.5 million DKK from SEED Capital was kicked off at TechBBQ 2021

The impact of TechBBQ
TechBBQ is happy to learn that we played a significant role in showcasing ComplyCloud in front of a large crowd of relevant stakeholders at the Summit in 2021, ultimately leading into an investment from SEED Capital December 2021.

The impact of the investment
The SEED Capital investment will empower the Danish legal tech company to scale its business internationally, refine its technology stack and expand its number of employees significantly. According to Crunchbase, the 33,5 million DKK investment is the largest ever seed investment to be made in legaltech, not only in Denmark, but also the Nordics.

Watch the ComplyCloud interview:

Danish SaaS-company ComplyCloud, who has built a SaaS that acts like a GDPR- and compliance-lawyer, received an investment of 33.5 million DKK from SEED Capital shortly after TechBBQ 2021.

We are grateful for TechBBQ, as the conference indirectly made it possible for us to close a substantial investment round with SEED Capital, helping us grow and internationalise our business.

What's the context?



Project Manager, TechBBQ,
Stephanie McMahon,
explains...

SEED Capital interview:

Q&A:

1: What does TechBBQ mean to you and the startup investment ecosystem?
"It’s the one time of year where Copenhagen becomes the center of the European startup ecosystem - and we get to catch up with old and new network from all over the world."

2: How many times has SEED Capital been at TechBBQ?
"We have supported TechBBQ since inception. Every year, you manage to create a feeling of home, hygge and unity."

3: What do you normally aim to get out of TechBBQ?
"For us, it’s mainly about re-connecting with old friends from all the international funds that are flying in. We have very deep knowledge about the Danish startup scene and the companies here, which we are happy to share with your international audience."

4: How did TechBBQ help you in a direct or perhaps indirect way to make an investment in ComplyCloud? "ComplyCloud joined the pitch competition at TechBBQ, where I was on the jury panel. That first interaction led to many more, and ultimately we decided to pursue an investment in ComplyCloud. We're thankful that Martin (ed: CEO) chose us amongst the competing funds trying to put down an investment."

5: Did you know about ComplyCloud and their solution beforehand or did you meet them at TechBBQ 2021 Summit for the first time?
"We knew of the company, but it was at TechBBQ that we met for the first time. Martin was very deliberate about not spending - some would say not wasting 🙂 - time with investors until he decided that he and the company was ready."

6: What qualities did you see in the founder team (solution, traction, impact) that made you invest a record amount of 33,5 million DKK in the company?
"Martin is a world-class CEO, and has assembled a very strong and experienced team. Their solution truly helps their customers, and every customer reference was glowing. ComplyCloud was also much further along traction wise than the typical SEED Capital investment, which meant we were comfortable investing more money than usual."

7: In which specific areas & markets will your investment help elevate ComplyCloud?
"The capital was raised with the specific purpose to accelerate growth, both domestically and internationally.

8: Could you please share some background numbers, data and graphs on what type of companies Seed Capital normally invests in. In addition, which sectors, industries, growth stage, countries etc.?
"SEED Capital is mainly a “late seed”-investor, meaning that we typically invest in companies with some commercial traction. This is different from company to company, but for a ‘classic’ SaaS company, we’d prefer to see above €20K MRR."

"We only invest in Denmark. We have decided to focus upon Danish startups because we believe it's crucially important to be close to your portfolio companies when working from seed to series A. A majority of the management team will still be local recruitments at this stage, we're still working on strategy, etc. – all things that benefits from having a close dialogue, if you’re truly serious about working with the company."

9: What do you look forward to at TechBBQ 2022?
"To be honest, more of the same. We love it."

Watch the ComplyCloud interview:

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