Both European Union-based and U.S.-based companies that handle EU personal data must comply with the General Data Protection Regulation (GDPR), which sets guidelines for the collection and processing of personal information from individuals who live in the European Union. From privacy policies and procedures to conducting risk assessments and ongoing auditing, the requirements arising from GDPR often involve hiring external legal counsel and, consequently, significant legal costs.
owever, the team of developers at Danish firm ComplyCloud thinks it can come to the rescue. They have essentially built a lawyer out of algorithms. This digital lawyer helps companies comply with the requirements around GDPR and manage their administrative burden. It allows them to put data protection rules entirely on autopilot with the the reassurance that they have at their disposal a 24/7, fixed-rate, GDPR-specialized lawyer.
Investment in technology in the legal sector has risen dramatically in recent years. On January 4, 2022, ComplyCloud announced a $5.08 million investment from local technology investor SEED Capital, which will help the company refine its software, hire more staff, and focus on its expansion in the United Kingdom, a step towards the U.S. market.