Misakey & what it means to be a seed investor (sometimes)
More transparency for businesses, better control over our personal data… Misakey’s €1M Seed funding is a strong milestone in the context of GDPR*. XAnge is very proud to lead this round with CapDecisif, for what promises to be an exciting ride.
Hard work leads to crush
Crushes don’t usually justify investing deals at XAnge (we love our founders, but that’s not how it works). The team is rather analytical. That being said, there’s always a situation where guts take over, convincing you to go with a team and a vision rather than following metrics. Misakey is one of those deals. We could’ve waited a few extra months, asked for more traction & maturity. But we figured the timing was good and decided to give it a go.
How does the gut know? Around last year, we published this mapping of European startups specialized in managing personal data. GDPR was the context. This work helped us understand the impact of regulation on business, the innovations it was generating, etc. This is part of our work. To get an edge over our friends & competitors, to anticipate the market and its needs, we must observe an industry, try to understand it, gain depth, build up a conviction and eventually invest.
GDPR made easy
It’s your data, take control, says the regulator. Great. And how are we supposed to do that? What data are we talking about? What does it even mean to take control? Misakey precisely helps answer these questions.
The startup develops a technology that makes everything as clear as possible for all parties involved, businesses and consumers. It’s an easy-to-use tool that give Data Protection Officers (DPOs) the opportunity to comply with their obligations. It is very much needed, given their critical role in businesses transformation with regards to data regulation. From the consumer’s perspective, this will also give us a chance to take better control of our data.
It’s a truly great project. With the cash raised, the team will hire developers and accelerate the deployment of the solution, currently in closed Beta.
Living up to the V in VC
Most of the Seed deals we do rely on our trust in the founder’s vision and their ability to deliver outstanding execution. Arthur & Antoine make no exception. We want to be part of the adventure as soon as possible, even if it means taking risks on the business, the technology and the market timing.
* General Data Protection Regulation, see here for more information.