Cognigo raises $8.5 million from Series A Funding

Cognigo raises $8.5 million from Series A Funding
Cognigo raises $8.5 million from Series A Funding

Cognigo, a startup that aims to use AI and machine learning how to help businesses protect their information and remain in compliance with regulations such as GDPR, today announced it has raised a $8.5 million Series A round. The round was led by Israel-based crowdfunding stage OurCrowd, together with involvement from security firm Prosegur and State of Mind Ventures.

The business promises it may help companies protect their critical information assets and stop personally identifiable data from leaking out the organization’s network. Plus it says it could do this without the type of hands-on direction that is often required in establishing these sorts of systems and handling them. Really, Cognigo states it may help companies achieve GDPR compliance in days rather than months.

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To do so, the business informs me, it is using pre-trained language versions for information classification. That version was trained to discover common classes like payslips, patents, NDAs and contracts. Organizations may also give their own information samples to additional train the design and customize it for their particular needs. “The only human intervention needed is through the systems configuration procedure, which might take no more than a day’s work,” a company spokesperson told me. “Aside from this, the machine is totally human-free.”

The business informs me that it intends to utilize the new financing to expand its own R&D, advertising and sales groups, with the objective of expanding its market presence and improving awareness of its own product. “Our vision is to make sure our clients can use their information to make smart business decisions while making certain the information is constantly protected and in compliance,” the company tells me.

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