Israeli startup Cognigo has raised $8.5 million in a funding round led by OurCrowd.com for its enterprise product for data protection and privacy regulatory compliance. Prosegur and Mind Ventures also participated in the round.
Cognigo's platform allows enterprise customers to manage and secure critical data in compliance with regulations like GDPR, PIPEDA, CCPA, and others. The AI part is there to automate data discovery, classification, and protection. The solution works both in the cloud and on-premise.
“Data breaches are constantly expanding, and some have a disastrous impact on both the privacy of users and the security posture of the organization,” said Cognigo's CEO and founder Guy Leibovitz. “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 organisations 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.”