Some good news: Israeli startup Mine, which develops B2C and B2B solutions in the fields of privacy and data protection, announces a $30 million financing round led by Battery Ventures, the investment fund of the payments giant PayPal and with the addition of a new fund, the investment arm of the American insurance giant Nationwide.
All investors in previous rounds joined the round, including Google's AI fund, Gradient Ventures. The capital raised will help in the global expansion efforts of the company's B2B platform, MineOS.
Google. The company's AI fund also entered as an investor, Photo: AFP
At the same time, the company is preparing to recruit dozens of developers, QA and ML professionals in Israel who will join the team and expand the platform to new areas, as well as lead the development of new technologies at the forefront of the data market.
Mine was founded in early 2019 and employs about 35 people in its offices in Tel Aviv, the US and Germany. The company's founders are Gal Ringel (CEO), Gal Golan (CTO) and Kobi Nissan (CPO). The company's vision from day one is to make privacy rights accessible to both sides of the playing field, citizens and companies.
Make privacy rights accessible to both sides of the playing field, citizens and companies. Illustrative, photo: Thinkstock Photos
The Vision: One Source of Truth
In the past two years, the company's vision around its B2B product called MineOS has been sharpened and its goal is to provide companies with one source of truth for all the systems they use and the information they hold there.
This process is called Data Mapping and is the most important building block that serves as the foundation for many teams in any organization: the legal team, the privacy team, the various data teams, the development, IT and security teams.
The company's first journey was in an application for B2C end users in the field of privacy, which locates for users all the companies that hold their private information, explains the digital risk involved and allows you to request the deletion of the information – with a click.
The goal - to give consumers back control over their data (illustration), photo: GettyImages
Control of Personal Information
Maine's solution essentially gives consumers back control over their personal information. The development was launched in 2020, has gained momentum and has reached more than five million users worldwide. These same users have already sent more than 50 million requests to more than 600,<> Uniq companies and organizations.
Mine CEO Gal Ringel: "The recruitment was completed in the second week of October, a week into the outbreak of the war. Despite the difficult situation in the financial markets, since March last year, we have managed the company very strictly. We are happy to work with hundreds of companies around the world, helping them automatically map and manage all the systems and information used by the organization and help them meet various security standards and privacy regulations."
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