Data Safeguard, an AI-based Data Privacy solutions provider, has successfully concluded its seed funding round.
The Santa Clara, CA based firm is a well-recognised leader in mitigating risks associated with data breaches by redacting sensitive and personally identifiable information in complex enterprise data environments.
The funding round was spearheaded by FFB Bank and will be a critical driver in powering the company’s growth initiatives. It will also support enhancement of product features and solidify Data Safeguard’s standing as a trusted leader in the Data Privacy product segment.
At the heart of Data Safeguard’s operation is their recently released product, ID-REDACT® on cloud platforms. The AI-powered product is aimed at both enterprise organisations and individual consumers, and is designed to ensure compliance with stringent data privacy regulations. This not only protects clients from the risks associated with data breaches but also reinforces their commitment to data privacy.
Data Safeguard has earmarked the newly-acquired funding for accelerating their customer onboarding and revenue enhancement efforts. The goal is to expand market presence and introduce more products to the market, an endeavour that FFB Bank’s financial backing will significantly facilitate.
In addition to the successful funding round, Sudhir Sahu, CEO of Data Safeguard, mentioned active exploration of partnerships with several strategic investors who share Data Safeguard’s vision of a safer digital world. This investment marks the beginning of an exciting chapter for Data Safeguard, fuelled by a shared commitment to customer-centric innovation and revolutionary data protection practices.
Data Safeguard CEO Sudhir Sahu said, “We are delighted to have secured funding from FFB Bank, a prominent financial institution known for its commitment to supporting innovative technology startups. This money represents a significant milestone for Data Safeguard, allowing us to accelerate our customer onboarding and revenue enhancement efforts.”
Omar Olla, VP and Business Development Officer at FFB Bank, echoed these sentiments, stating, “We are excited to be able to financially support Data Safeguard’s current growth and looking forward to continued support for their future growth.”
Data Safeguard’s AI products have gained substantial traction across various sectors, including banking and financial services, healthcare, technology, retail, and government organisations, particularly in the face of increasing frequency and sophistication of data breaches.
With its strong focus on customer needs and investment in cutting-edge technology, Data Safeguard aims to continue offering unrivalled data protection services and empowering organisations to manage their data privacy compliance needs.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
Copyright © 2018 RegTech Analyst