Cognigo, an AI-powered solution to protect data and compliance, has secured $8.5m in its Series A round.
This investment was led by OurCrowd, with participation also coming from Prosegur, and State of Mind Ventures.
Capital from the round will be used to boost its global sales and marketing expansion efforts, as well as its product development. Cognigo is also going to further the investment into its cognitive computing technology, which helps businesses to protect data and meet privacy regulation compliance, such as GDPR, PIPEDA, California Consumer Privacy Act.
Cognigo uses AI technology and cognitive computing to maximise data governance, security and compliance with minimal effort and in a human-free manner. The company offers a single point of control to manage and secure critical data, sensitive assets and Plls.
The company’s DataSense solution autonomously discovers hidden information or weaknesses and enforces GDPR and security policies, as well as alerting the business of any data vulnerabilities. It works by scanning an enterprises data remotely, with its AI algorithms automatically recognising and categorising structured or unstructured data across file repositories, databases and cloud services.
It can then instantly identify any potential security and compliance risks and automate actions like alerts, file tagging and encryption.
The human-free solution can help to monitor data, generate insights, simplify data searching, boost enforcement and ease orchestration.
Cognigo CEO and founder Guy Leibovitz said, “Data breaches are constantly expanding, and some have a disastrous impact on both the privacy of users and the security posture of the organization. In today’s era data has become the new currency.
“Regulations like California’s new privacy laws slated to come in effect in January 2020 and the GDPR, require organizations to up their data privacy and protection methodologies. Cognigo’s technology combines cognitive science, AI, and machine learning to reveal dark data at scale in real time and automatically enforce data privacy and protection regulations.
“We are excited to announce a strategic partnership with Prosegur which will help us expand our reach and deliver our unique solutions to an even wider audience.”
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