1touch.io raises $14M to increase its RD and field presence
1touch.io announced it has secured a $14 million Series A round from leading investors, including National Grid Partners (NGP) and Jerusalem Venture Partners (JVP). Additional investors include, Connecticut Innovations, Mindset Ventures, and Ocean Azul Partners.
1touch.io will use the investment to increase the company’s RD and field presence. Pradeep Tagare, vice-president at NGP, will join the company’s board of directors.
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.
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.
“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 Zak Rubinstein, founder, and CEO of 1Touch.io.
“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.”
Unlike other solutions that require human efforts and significant operational resources but yield only a partial and temporary view of protected data usage, 1touch.io automates security, and compliance requirements, and is not limited by the organizational “awareness” of where the data resides, nor by point-in-time assessment efforts. This provides a complete view of where an organization’s data resides, how it’s handled, accessed, and disseminated, and allows organizations to monitor compliance and security.
“In these uncertain times, few things are more mission-critical than data security,” said Lisa Lambert, Chief Technology and Innovation Officer at National Grid and president of National Grid Partners.
“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.”
Erel Margalit, Founder & Chairman of JVP: “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.
“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.”
Inventa, 1touch.io’s flagship solution, leverages network analytics, machine learning, and artificial intelligence to continuously and accurately catalog a company’s customer data in near real-time. This includes structured and unstructured data, data at rest and data in motion, known data, and, most importantly, unknown data.
Inventa also connects to a plethora of data sources, central filesystems, databases, NoSQL and SaaS solutions, and Amazon S3 buckets, helping solve one of today’s greatest cloud security challenges.
“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, 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.”
Inventa’s powerful automation provides a comprehensive view of customer data for maximum data quality and accuracy. Additionally, by eliminating the need for even partially manually protected data discovery and categorization, Inventa helps companies save time and money through reduced operational overhead.
By delivering a continuously updated, holistic master data catalog, Inventa enhances enterprise requirements due to brand and privacy regulatory protection, business intelligence, and security protection.