Israeli AI-driven enterprise platform company for data protection and compliance Cognigo, today announced the completion of a $8.5 million Series A financing round led by OurCrowd, with Prosegur (BME: PSG), and State of Mind Ventures.
The new funding will be used to support Cognigo’s global sales and marketing expansion and product development, as well as further fuel investment in its Cognitive Computing technology, which helps organizations achieve data protection and privacy regulatory compliance (such as GDPR, PIPEDA, CCPA and others).
Cognigo founder and CEO 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.”
OurCrowd CEO Jon Medved said, “Data is today’s most valuable asset for both individuals and companies. Cognigo provides companies with the critical tools and systems they need to get control of their data. With today’s new privacy regulations such as the GDPR and the CCPA, control and protection of data Is crucial not only to avoid regulatory fines, but also to avoid embarrassment and business disruption.”
Published by Globes, Israel business news - en.globes.co.il - on November 13, 2018
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