Vienna, June 2, 2022. Austrian web tracking and data privacy specialist JENTIS has successfully completed its second seed round, raising more than three million Euros of additional growth capital. The funding round was led by Swiss-Ukrainian startup studio and venture capital fund Pragmatech Ventures, which focuses on early-stage investments in fast-growing B2B SaaS and marketplace companies. In addition to existing investors, AWS – Austria Wirtschaftsservice also participated in the new seed round through a double equity program for 900,000 Euros. Nicolas von Stackelberg acted as financial advisor to JENTIS throughout the entire transaction.
JENTIS will invest this growth capital in the further development of its server-side tracking technology, the intensification of international product marketing and the expansion of its team, which is expected to grow to over 50 employees by the end of the year.
JENTIS: Booster for first-party data and compliance tool for non-European Martech
The company has developed a SaaS (“Software as a Service”) solution that ensures that data collected in a website user’s browser is first forwarded to the website operator. Unlike conventional client-side tracking, where data flows automatically and directly for example to analytics tools the website operator has data sovereignty here, including all raw data, through data collection via the JENTIS TwinServer. This eliminates data loss, significantly increases data volume and quality for first-party data strategies as well as the use of AI and advanced analytics. Furthermore, it significantly optimizes the user experience with regard to features such as page load time. In addition, JENTIS can be used to determine which first-party data is passed on for further use and to pseudonymize it in such a way that no conclusion can be drawn about the digital identity of a user. This is still done within the EU and before transfer to non-European marketing technology providers or to their cloud. This allows data-collecting companies to adequately address the GDPR requirements and ensure that they are legally compliant with their obligations to protect sensitive data when transferring it to companies from insecure non-EU countries.
JENTIS technology is already trusted by more than 50 companies from more than 15 industries, including numerous large corporations, with annual revenues of more than 52.5 billion Euros in total.
“The ‘Wild West’ phase of Martech is coming to an end, and we are now witnessing the beginning of a new era of data usage and privacy on the Internet,” says Evgeny Sergeev, Founder and General Partner of Pragmatech Ventures. “For this to happen, companies need to be equipped with a new generation of tools that enable them to tackle the challenges of the post-cookie and first-party data era in a confident and privacy-compliant manner. I was fortunate to meet the JENTIS founders and co-CEOs Thomas and Klaus, and I was impressed by their expertise and passion. JENTIS offers technology that shines a spotlight into hidden and lost data worlds, delivering immense value to organizations. The JENTIS team’s expertise in this area, their vision and commitment convinced us so much that we had to join their journey.”
Klaus Müller, Co-CEO JENTIS, states, “We are very pleased and proud to have Pragmatech Ventures as lead investor for JENTIS. Evgeny’s team impressed us with their technological expertise, and being successful entrepreneurs in the B2B software segment themselves, I am certain they will be able to significantly support us in scaling our business.”
Thomas Tauchner, Co-CEO JENTIS, adds, “Such a fast and high second seed round with trusted investors is a great success for us – especially as a merely two-year-old startup. It shows very well that the market now recognizes the importance of data technologies, that are meant for the digital ecosystem and are developed from an European understanding of data protection. The new growth capital enables us to take the next important step in our journey by allowing us to implement our ambitious growth plans even more forcefully.”
About Pragmatech Ventures
Pragmatech Ventures is a Swiss-Ukrainian venture capitalist and startup studio. The venture capital fund focuses on pre-seed, seed and Series A investments in enterprise software and marketplaces. Pragmatech’s founder Evgeny Sergeev is a technology entrepreneur with a proven track record of building consumer Internet and SaaS companies, including iDeals, the fastest growing virtual data room software company.
Pragmatech leverages the expertise and high-quality hands-on experience of its team, which takes an “operational” approach to startups. The specialists work directly with the founders and provide them with operational support in the areas of product, marketing, sales and HR.
Pragmatech was founded in 2020 and has done a number of early-stage deals in HR tech, cleantech, biotech, legal tech, martech and proptech.
For more information, visit https://pragma.tech/.
JENTIS is the European tech pioneer in server-side tracking and data compliance specialist for digital business.
The Vienna-based Austrian startup has developed an innovative web technology that provides website operators (publishers and e-commerce companies) with greater data quality and data sovereignty while maintaining full data privacy. The SaaS solution delivers 30 to 50% higher data quality to common web analytics tools and advertising systems and, as a compliance tool, enables GDPR-compliant use of even non-European Martech and Adtech solutions in data-driven business.
JENTIS customers include Albertina, Egger Group, Giesswein, Greenpeace, Heise Verlag, Humanic, Pixum, Tirol Werbung and XXXL Lutz
Press Release Pragmatech Ventures JENTIS
Evgeny Sergeev, Pragmatech Ventures