News01.03.2023
Polyteia secures €5m financing led by HV Capital
- Polyteia, a leading data platform for governments revolutionizing the way governments make decisions and operate their services, has secured €5 million in a funding round led by HV Capital with participation from DvH Ventures.
- The funding will be used to strengthen the company's position as GovTech category leader in Germany and boost its data platform’s capabilities.
- The company's end-to-end data platform makes it easier for governments to make informed decisions and operate their services more efficiently.
Berlin, February 2023. Our portfolio company 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.
“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.”
"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.”
"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.”
About Polyteia:
Polyteia is the leading SaaS data platform for governments and enables the public sector to make data-based decisions. The company’s cloud-based platform merges data from different data sources and offers public administrations and politicians on local, federal or state level real-time insights for informed decision making. More than 80 government entities in Germany entrust Polyteia with their data for better decisions and more effective operations.