TEL AVIV, Israel, November 13, 2018 /PRNewswire/ --
Cognigo, the world's first AI-driven enterprise platform for data protection and compliance, today announced the completion of a $8.5 million Series A round. The round was 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, California Consumer Privacy Act and others).
Cognigo CEO and Founder 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."
"We are excited to be working with this impressive team of professionals," said Alejandro Alonso, Managing Director of Prosegur's Cybersecurity business. "Cognigo's technology and solutions introduce a new and innovative approach for organizations to manage their data to comply with data privacy regulations such as the GDPR. We see the market's demand for a practical and extremely efficient approach to GDPR. We are keen to kick-off this partnership with Guy and his talented team and together deliver innovative solutions that address a real and growing market challenge."
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."
Cognigo is the world's first AI-driven platform for data protection and compliance, offering a single point of control to manage and secure critical data, sensitive assets and PIIs. Cognigo's AI-driven solution provides a human-free data discovery, classification and protection platform, which supports structured and unstructured data - both for on premise and cloud data silos. For more information and to schedule a demo visit: https://www.cognigo.com
For Press materials: http://www.cognigo.com