Israeli start-up focusing on data discovery, privacy secures $14 million
The investment efforts were led by Jerusalem Venture Partners (JVP) and National Grid Partners (NGP) – additional investors include, Connecticut Innovations, Mindset Ventures and Ocean Azul Partners.
By ZACHARY KEYSER1touch founders (from left to right) – Zak Rubenstein, Dimitry Shevchenko, Itzhak Assaraf(photo credit: 1TOUCH.IO)
1touch.io, an Israeli start-up focused on data discovery, privacy and security solutions, secured $14 million dollars in capital during a Series A funding round for their innovative technology during the coronavirus pandemic, even as many Israeli start-ups are currently scrambling to gain funding amid the accompanying economic crisis, the company announced Wednesday.The investment efforts were led by Jerusalem Venture Partners (JVP) and National Grid Partners (NGP) – additional investors include, Connecticut Innovations, Mindset Ventures and Ocean Azul Partners.“Today’s privacy and security concerns have highlighted the need for organizations to have a granular understanding of the flows of their protected data,” said founder, and CEO of 1Touch.io Zak Rubinstein. “The need for fully automated, accurate, ongoing, and seamless discovery and categorization extends well beyond privacy into security, governance, and business intelligence, which have been hampered by recent global events.”1touch.io will put forth the funding for its next phase of product development."1touch.io’s unique, network-based data discovery allows the enterprise to identify, in a continuous, automated, and accurate manner, all data repositories inside the organization that store sensitive data such as PII, PHI and PCI-related, as well as the business processes that access, replicate, move and update such data repositories," the company explained in a press release."This continuous discovery maps such business processes within the organization or across the organization’s perimeter to the cloud; thereby providing a holistic view of how sensitive information is used, while creating a master catalog, enabling heightened security and compliance with GDPR, CCPA, PCI, HIPAA, and other regulations."Apart from other like technologies that require manual effort, significant operational resources and come with the risk of human error sullying the data, 1touch.io’s innovation "Inventa" completely automates security and compliance requirements and is not limited to organizational "awareness," giving companies complete view of where organizational data resides - which yields a wider view of the company's protected data usage, whereas alternative processes could lead to hidden or unknown categories becoming overlooked.“1touch.io’s brings a unique solution to global regulations protecting privacy. The company enables every enterprise to protect its sensitive data by understanding its flow and usage, whether it is known or hidden to the enterprise," Founder and Chairman of JVP Erel Margalit. "With the click of a button, the organization can locate information according to search value, whether it is structured or unstructured data, whether it is text, image, or video. In an age where everything is known about us, we need to allow people, customers and organizations to share data on one hand and protect privacy using preset policies on the other.”Erel Margalit, JVP Founder and Chairman (JVP)Inventa thrives by leveraging network analytics, machine learning and artificial intelligence to "continuously and accurately" monitor and catalog sensitive customer data located on company servers, including structured and unstructured data, data at rest and data in motion, known data, and, at the utmost importance, unknown data - which assists greatly in solving some of the toughest cloud-based security challenges that exist today.“In these uncertain times, few things are more mission-critical than data security,” said Chief Technology and Innovation Officer at National Grid and president of National Grid Partners Lisa Lambert. “1touch.io is uniquely positioned to address this growing market opportunity, and we’re particularly impressed with the impact they’re having on customers like National Grid who manage critical assets.”“1Touch.io has demonstrated its technological approach advantage in solving data security privacy needs for organizations of various sizes and different verticals – including financial services, insurance, retail, manufacturing, hospitality, and others,” said Yoav Tzruya, a general partner at JVP. “We believe this unique platform, with its layered privacy, security, and compliance solutions, is the first one to provide the needed visibility and control needed for data governance.”
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