MinerEye, an Israeli data privacy and protection startup, has raised a fresh $3m in funding.
The investment, which came from Canadian venture capital fund Awz HLS Fund I, completes MinerEye’s first financing round at a total of $3.6m. MinerEye offers Artificial Intelligence (AI) powered information governance to automate the identification and tracking of non-compliant data in enterprise scale repositories and storage platforms.
Its technology fuses computer vision and machine learning to identify sensitive data patterns based on learning sets of exemplar files. MinerEye’s Data Tracker product scans and clusters large on-premises data repositories as well as cloud repositories, and then tracks the data’s behaviour to alert and trigger policy enforcement tools and report on non-compliant data. Its Data Tracker technology ensures increased data control and compliance for companies facing the EU’s General Data Protection Regulation (GDPR) according to the company.
The product is commercially available having already been installed in several large financial institutions in the US and Europe.
Yaron Ashkenazi, founder & CEO of Awz HLS Fund I said: “Organisations are now starting to deal with a growing number of challenges regarding data protection. MinerEye’s technology provides a unique data management and protection solution to allow organizations to cope with the growing risks to organizational information and new regulatory requirements.
“Our investment in MinerEye is consistent with our early investments and focuses on companies that provide a significant, innovative and creative solution against threats in the business and public sectors through breakthrough technologies from the cyber, intelligence and physical security sectors”.
Awz HLS Fund I’s previous foray into Israel’s cyber security space includes a $4.5m investment in NanoLock Security, an Israeli company specializing in cyber-shielded technology components for the IoT market.
Last year, the fund announced a $3.5m investment in SIGA Data Security, an Israeli company that develops cyber security technologies for critical control and operation systems in the operational technology (OT) space, as well as a $5.25m investment in Octopus Systems, an Israeli company that developed a cloud-based information platform that protects organisations from cyber and physical attacks.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
