Why Secjur will be part of every company’s IT stack
Secjur digitises and automates compliance for businesses of all sizes. Visionaries Club is excited to announce its lead investment in Secjur’s €5.5m seed round.
Compliance is the nemesis of innovation and growth
When was the last time you met someone excited about compliance? Never? That would hardly shock us. Compliance is boring. Compliance is time-consuming and expensive. It requires repetitive, uncreative and bloated processes. In many ways, it is the nemesis of innovation and growth.
Consequently, it might come as a surprise that we are obsessed with compliance at Visionaries Club.
Why are we obsessed with compliance?
To be clear, we loathe the status quo of compliance too. At the same time, we are obsessed with this space because it presents one of the most significant digitisation and automation opportunities.
Compliance is a substantial administrative pain, but it is also strictly necessary for businesses. Users and enterprises rightly demand that their data is safeguarded and that risks are mitigated. Oversights can be existential: Security or privacy breaches often entail high costs and severe reputational harm.
It is also an exponentially growing space. As technology investors, one of our core theses is that all work that can be digitised will eventually be digitised. However, an increasing degree of digitisation also leads to increased associated risk and necessitates an expansion of rules and regulations. With security breaches continuously rising, this has already become a pressing concern for regulators and businesses. The monetary damage caused by reported cybercrime increased almost fivefold from $1.4bn in 2017 to $6.9bn in 2021. As a result, information security accreditations have become a must for any software vendor. Many information security and data privacy consultants can no longer serve the surging demand. We know this first-hand from our startup portfolio.
Secjur will champion the compliance automation revolution
While compliance is an admin pain for every business, it is strictly necessary and continuously growing in relevance. This is a huge problem. Secjur presents a comprehensive solution to this problem: The digital compliance office.
Getting ISO27001 certified takes a medium-sized software business hundreds of hours and can quickly cost several hundred thousand Euros. With Secjur’s consumerised SaaS solution, businesses can save up to 80% of third-party consulting expenditure and countless hours on internal workflows.
Secjur already automates large parts of the manual labour associated with data privacy and information security compliance. The team is continuously rolling out new integrations with third-party applications to eliminate all manual workflows in the long run. And this is only the beginning, with Secjur adding more governance and compliance topics to their offering.
We love backing contrarian founders obsessed with solving real problems using technology. Niklas, Sven, Manuel and Simon fit this mould perfectly. They experienced the pain point of compliance first-hand but from various perspectives, working in tech and law. Their conscious decision to bootstrap the business and work closely with companies ranging from SMEs to enterprises and from the established economy to cutting-edge tech firms led them to build the best possible product solving the most significant problems in this space. We could not be more excited to work with Secjur to accelerate their commercial expansion and continued product development.
