This week’s deals reflect a pattern of emerging platforms that are designed to manage and alleviate regulatory concerns, with Signzy securing $4 million for its digital trust system to authenticate and onboard customers, DataFleets raising $4 million for its data privacy and analytics platform, and Odaseva nabbing $25 million for its data governance solution that helps enterprises leveraging Salesforce to optimize data privacy. We anticipate that financial institutions and heavily regulated parties will, as their legal responsibilities expand and new modes of onboarding are innovated, continue to invest into and potentially even acquire these new players.
Developer of a digital trust system designed for banks to solve customer authentication and onboarding problems. The company's platform uses artificial intelligence, cryptography and provides biometric-enabled digital contracts and due diligence through algorithmic risk intelligence as well as digitalizes processes such as identification, background checks, issuance of electronic bank guarantees, enabling banks to do digital onboarding of KYC in real-time.
The company raised INR 341.1 million (US $4.63M) of Series A venture funding in a deal led by Unitary Fund on October 21, 2020. MasterCard, Kalaari Capital and Stellaris Venture Partners also participated in the round. The Bengaluru-based company said it will deploy the fresh funds AI research, product enhancement and sales team expansion to address the surge in demand from global and India clients.
Developer of an analytics platform designed to help organizations to overcome the struggle between data privacy and innovation. The company's platform provides data scientists and developers with a data fleet that allows them to create analytics, ML models, and applications on highly sensitive data sets without having explicit access to the data, helping organizations maintain high data protection standards for compliance while simultaneously accelerating data science initiatives.
The company raised $4.5 million of seed funding in a deal led by Morado Venture Partners and AME Cloud Ventures on October 26, 2020. Mark Cuban alongside 5 and other undisclosed investors also participated in the round. The funds will be used to hire more engineering and technical talent.
Developer of a data governance platform designed for data protection, privacy, and operations for Salesforce users. The company's platform delivers enterprise-class data governance, offers data protection such as backup and recovery, archiving, governor limits monitoring, data compliance for regulatory requirements such as GDPR and data operations, enabling businesses to manage their data in the cloud without hassle.
The company raised EUR 21 million (US $24.71M) of Series B venture funding in a deal led by Eight Roads on October 27, 2020. Salesforce Ventures, Partech, F-Prime Capital, and Serena Capital also participated in the round. The funds will be used for further development of the core Enterprise Cloud Trust Platform offering and supporting platforms, accelerate hiring, and increase investment in its strong ecosystem of users and partners.