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 compliance. Prosegur and Mind Ventures also participated in the round.
Cognigo’s platform enables business customers to manage and secure critical data in compliance with regulations such as GDPR, PIPEDA, CCPA, and others. The AI part is there to automate the discovery, classification and protection of data. The solution works both in the cloud and on premises.
“Data breaches are constantly expanding, with some having a disastrous impact on both user privacy and the organization’s security posture,” said Cognigo CEO and Founder Guy Leibovitz. “In today’s era, data has become the new currency. Regulations such as California’s new privacy laws that take effect in January 2020 and the GDPR require organizations to improve their data privacy and protection methodologies. Cognigo technology combines cognitive science, artificial intelligence and machine learning to reveal dark data at scale in real time and automatically enforce data protection and privacy regulations. “