Israel-based Shield, a RegTech startup specializing in risk management, operational efficiency, and tackling the most pressing challenges within a company’s financial domain using an advanced AI platform, raised USD 15 million in Series A on 13th January 2022.
Investors: The investment was led by Macquarie Capital, and OurCrowd contributed significantly along with Mindset Ventures.
Purpose of funding: The startup will use the new funding to expand globally, develop AI-driven platforms, and improve accessibility on the platform to increase user experience. A large portion of the funds will be allocated to global expansion throughout Europe, the Middle East, Africa, and Asia-Pacific.
Founded in 2018 by Ofir Shabtai and Shiran Weitzman, Shield is located in Ramat Gan, Israel. Shield is a RegTech startup specializing in risk management, operational efficiency, and tackling the most pressing challenges within a company’s financial domain using an advanced AI platform. In light of the digital work environment, financial crisis, multiple risks, and privacy misconduct, the startup is primarily built for today’s environment.
With their AI-driven platform, Shield gives users access to advanced Artificial Intelligence and Natural Language Processing solutions throughout their entire communications lifecycle. Shield’s unique approach to communications compliance provides a competitive advantage almost instantly.
What the founders have to say
“The ability to access and understand new and evolving communication channels is increasingly becoming a pain point for organizations, no matter the industry, and this funding round is well-timed as it will empower us to scale our technology and enhance our already robust platform that addresses compliance concerns that enterprises deal with daily,” said Shiran Weitzman, Co-Founder and CEO at Shield.
“As a bootstrapped company, we’ve already proven that our AI platform is unquestionably valuable to banks and financial institutions. Now, with the help of our highly regarded investors, we’re ready to further build out our technology, expand our global sales and customer success teams, and enhance our already impressive ability to discover and manage compliance and risk concerns across electronic communications.”
“Compliance, legal and surveillance professionals in top tier banks and across financial service firms have incorporated the Shield platform, finding inherent value in our eDiscovery, case management, investigations, contextual surveillance, and archiving solutions,” said Ofir Shabtai, Co-Founder and CTO at Shied.
“From the time they implement our dynamic platform, our customers are seeing the benefits and immediate ROI.”
What the investor has to say
“In order to support hybrid working, better manage to change compliance and regulatory requirements and the need to be cloud-native Shield has adopted a new architectural approach to software development. Shield’s leading edged software platform, agile development philosophy, and ability to rapidly implement its solution to deliver more immediate benefits to customers positions Shield to be a new market leader,” said David Standen, Co-Head Venture Capital Group at Macquarie Capital.
“We are excited to be the lead investor and support the aspirations of the very talented team at Shield.”
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