Polyteia raises 5 million from HV Capital
In another financing round led by HV Capital, Polyteia has raised fresh capital to further contribute to the digital transformation of public administrations.
Berlin, March 1st, 2023. Polyteia, the leading data platform for governments revolutionizing the way public authorities make decisions and operate their services, has secured €5 million in a funding round led by HV Capital with participation from existing investors like DvH Ventures. The funding will be used to further develop the company's platform and expand its market footprint in the DACH region and beyond.
To empower European governments with data-driven decisions, Polyteia is further expanding its SaaS data platform's transformation stack and no-code/low-code
capabilities, as well as building data solutions for various government use cases. In addition to its software directly to the customer, Polyteia plans to onboard technology partners using its platform and infrastructure for building a large scale data use case ecosystem for the public sector.
More than 80 governments like states of Schleswig-Holstein or Saarland as well as national level ministries in Germany successfully use Polyteia’s data platform in the fields of social service planning, crisis response or budget controlling. Therewith Polyteia is improving decisions impacting more than 2 million citizens and 400,000 businesses just in Germany. The government entities rely on the company’s strong public sector focus and domain knowledge as well as its platforms high data protection, security and sovereignty standards.
Faruk Tuncer: “I am thrilled to have the support of HV Capital as we continue to revolutionize the way governments make decisions based on data. Governments worldwide invest and spend trillions on their services. In the Euro Zone alone, half of GDP is directly or indirectly generated by government expenditures. Equally public sector institutions are under high digitization pressure by more than one third of their workforce retiring until 2030. Polyteia’s platform will be crucial in empowering them in their capabilities of solving 21st century challenges with better data against the backdrop of these trends. This new funding will allow us to further develop our data platform and bring it to many more governments in DACH and beyond.”
Said Haschemi, Investment Manager at HV Capital, said, "HV is excited to partner up with Polyteia to serve the public sector’s massively growing need for scalable software solutions. Governments must manually navigate through a flood of data to make the right decision – a process that is timely and too often error prone. With Polyteia, decision makers in the public sector finally have access to the right data with a click of a button. HV is looking forward to working with Faruk and the team to help the company to build the first government SaaS category leader in Europe.”
Duc Quyen Tran, Partner at DvH Ventures: "We are pleased to continue supporting Polyteia and are highly confident in the company's ability to revolutionize the GovTech industry. We look forward to seeing the impact of the company's platform on governments and citizens alike in this next phase of acceleration.”
Polyteia GmbH
Faruk Tuncer, Alexa Möller
Geschäftsführer
Schlesische Straße 27, 10997 Berlin
Tel.: +49 30 549 08 32 0
info@polyteia.de
About Polyteia
Polyteia is a Berlin-based startup that empowers public administration to make better decisions with a secure and sovereign SaaS data platform. Polyteia's data platform Leto enables the automated integration, transformation and visualisation of data from different source systems in public administration. Leto is accessible through the Solution and Studio product lines.
The Solutions are designed to cover the most common use cases in the public sector for different work areas. If required, individual Solutions can also be designed for public authorities. With the no-code/low-code solution Studio, data is flexibly integrated and processed. Whether with or without programming knowledge, highly individual requirements can thus be implemented without any problems.
Leto is hosted and operated on Deutsche Telekom servers (Open Telekom Cloud) with a German server location (Magdeburg). This is BSI-certified (ISO 27001) and is classified as a "Trusted Cloud" by the BMWK.
