Risk Tech-startup 3rdRisk Secures €500.000 in Seed Round

HSD Partner 3rdRisk announced that it has raised an investment of €500.000 in a seed round which includes the option to expand capital. The investment comes entirely from Mamadoo Ventures, an informal investor specializing in growing B2B SaaS startups. The investment will be used to develop 3rdRisk’s multidisciplinary risk management platform further and accelerate international growth.

Bram Ketting, CEO and co-founder of 3rdRisk: “Due to the threat landscape and increasing European legislation, more and more organisations want to use technology to make risk management better and more efficient. However, we see that the current technology does not meet the needs of many organizations. From business, audit, and risk to compliance teams, nobody likes working with traditional TPRM or GRC solutions. They are not user-friendly, the implementation takes a long time, and the costs are sky-high. In addition, the market is dominated by American companies. We want to be the better and more attractive European alternative.”

Hans Snel, partner of Mamadoo Ventures: “Due to the increasing risks of relationships with third parties and the associated laws and regulations, a solution such as 3rdRisk is indispensable to be “in control.” We have reviewed many early initiatives and associated business plans and have rarely hit such a good business case, platform, and team. The rapid acceptance of the 3rdRisk solution by many large, internationally operating companies is proof of this. Moreover, the ambition of Mamadoo Ventures and that of the management of 3rdRisk turned out to fit together seamlessly. Accelerating growth and further internationalization together with selected partners will put 3rdRisk further on the map.”

Ruud Kroon, partner of Mamadoo Ventures: “I am pleased with the opportunity to participate in 3rdRisk, it will significantly simplify the lives of many companies and give directors the control they are looking for.”