Mine Secures $30M in Series B Funding

PRESS RELEASE. BOSTON and TEL AVIV, Israel, Dec. 5, 2023 /PRNewswire/ - Mine, a pioneering company disrupting the data privacy market, announced today that it has raised $30 million in Series B funding, co-led by Battery Ventures and PayPal Ventures, with significant investments from Nationwide Ventures and with the participation of all existing investors including Saban Ventures, Gradient Ventures, MassMutual Ventures and Headline Ventures.
This substantial investment will propel Mine's mission to redefine data privacy and governance management for companies globally, enabling them to gain better control over their data and simplify regulatory compliance processes to get peace of mind.
This integration not only sets a new industry benchmark in automation and accuracy but also revolutionizes the data discovery process, making it more accessible and efficient for businesses of all sizes to automatically discern the apps and infrastructure they employ, identify personal data within these systems, and grant individuals control over their data usage.
Mine has seen remarkable customer growth across diverse segments and industries, reflecting the universal demand for robust data privacy and governance solutions.
Rooted in its B2C origins, Mine prioritizes the customer experience, including a streamlined and continuous data discovery, inventory and classification system, unveiling near total coverage of any type of data, structured or unstructured, cloud or on-premise utilized by the company, complemented by the most comprehensive cloud scan to identify all assets.
This evolution encompasses AI Risk Assessments, Shadow IT Management, Compliance, and Privacy requirements such as RoPA and DSR Handling, in addition to other Security measures.
The ultimate objective for MineOS is to emerge as the singular source of truth for Data Lifecycle Management.
Mine currently serves over 2,000 customers through its unique free tier offering and over 150 mid-size and enterprise customers including Reddit, HelloFresh SE, FIFA, and Data.ai.
Their customers are based across North America, Europe, Israel, Canada and more.
Mine tackles crucial issues in data privacy and governance, specifically navigating complex data regulations and the escalating demand for transparency.
Acknowledging the challenges faced by industries in data inventory discovery and classification, Mine seeks to ease customer frustrations by prioritizing a more efficient and seamless process through an automated data privacy program.
Recognizing the impending surge in state-level data regulations and the ongoing data explosion from massive data generation, collection, and management, Mine is poised to lead the market in the upcoming years of heightened data privacy focus in the US, projected for 2024 and 2025.
As the privacy landscape continues to evolve, Mine is actively developing solutions for emerging AI regulations, including AI Governance and Risk Assessment functionality.
The company will host a webinar to give further insights into its product roadmap and more detailed information on how companies can engage with MineOS on December 19th at 9:00 AM EST. Please register here to participate.
Mine stands as a beacon in the realm of digital privacy, dedicated to reshaping how both individuals and businesses approach data protection.
With the consumer-centric SayMine app, individuals reclaim their data, gaining insights into their digital footprint.
On the B2B front, MineOS emerges as a transformative solution, addressing multifaceted challenges businesses face today.
From ensuring compliance with global regulations to providing continuous data source discovery and seamless integrations, Mine is at the forefront of making data privacy intuitive, automated, and scalable.
As we venture into a new digital era, Mine is committed to fostering a world anchored in trust and transparency.
The company was established in 2018 by CEO Gal Ringel, CPO Kobi Nissan, and CTO Gal Golan, a trio of experts in the fields of cybersecurity and privacy technology, with the goal of developing a comprehensive privacy platform.


This Cyber News was published on www.darkreading.com. Publication date: Tue, 05 Dec 2023 23:40:31 +0000


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