The shift in regulation for both consumer and employee privacy in both the U.S. and the European Union has increased an enterprise's responsibilities around privacy for both their employees, as well as their customers.
Ringel emphasized that their goal is to bolster the company's capabilities to penetrate the enterprise segment, which requires the completion of several enterprise features.
Ringel says that the company's success in the mid-tier of the market sets a solid foundation for growth into enterprises - a key goal for Mine in 2024 and beyond.
Cracking the enterprise market will take a combination of strong governance, compliance and digital experience workflows that can scale and flex to what CIOs, CISOs, and governance teams need.
What Ringel and the Mine team have working in their favor is a successful track record of taking on the complexities of protecting privacy while orchestrating governance, compliance and regulatory reporting in the mid-market.
Enterprises are wasting millions of dollars a year attempting to comply with increasingly stringent regulations, including CCPA, GDPR and others very specific in how personal data needs to be secured.
Ringel tells VentureBeat that the legacy approaches to complying with this complex regulation is an area Mine can help with.
AI and machine learning have the potential to transform privacy management by automating complex processes, including data mapping and risk assessment, reducing human error and enhancing efficiency in the process.
Mine is noteworthy from an enterprise privacy management standpoint that they've architected their AI algorithms to sift through the extensive data enterprises have to identify, manage and manage personal information.
By automating these processes and ensuring their privacy using an AI-driven approach, Mine can ensure compliance with privacy laws and empower businesses to handle consumer data responsibly.
The automation and scalability AI offers means that privacy management remains manageable and efficient even as data volumes grow.
A $30M Series B round in this environment is a strong vote of confidence for AI-powered privacy solutions that also deliver solid digital experiences.
Implicit in the funding round is how critical getting digital experiences right in 2024 will be, especially in privacy.
VentureBeat continues to see how the future of enterprise software will be defined by how well DevOps teams, from startups to the largest providers, build products with privacy at their core.
Ivanti has called for the U.S. government to lead in ensuring digital privacy and safety.
Their senior management team and counsel have called for a comprehensive federal framework to protect consumer data privacy.
Corporate and personal privacy often get compromised on endpoints; however, often one of the least-protected threat surfaces in a company.
Ringel and his team are reading the enterprise market well, anticipating an even greater convergence of enterprise privacy management with the digital lives of employees, suppliers and selling partners.
Mine knows privacy is the killer app - the catalyst of an exceptionally strong digital experience.
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This Cyber News was published on venturebeat.com. Publication date: Fri, 08 Dec 2023 18:28:05 +0000