The GDPR compliance and Data Security Company Cognigo has announced that it has completed its Series A round. The company raised a total of $8.5 million in this funding round that was led by OurCrowd. OurCrowd is a crowdfunding platform based out of Israel. Besides OurCrowd, Prosegur and State of Mind Ventures were the other participants in the funding round.
Based out of its Headquarters at New Jersey, the company ensures the security of the critical data assets of its clients and helps achieve privacy regulatory compliance (such as GDPR, PIPEDA, California Consumer Privacy Act and others). Their technology combines AI, machine learning and cognitive science to shed light on dark data in real time. Cognigo was founded in 2016 by cybersecurity experts. The company also has an R&D center in Tel Aviv, Israel.
Cognigo intends to use the fresh funding to support its global sales, marketing expansion, and product development. The cybersecurity company is also keen on using the funds to invest in its Cognitive Computing technology. With data breaches on the rise, new privacy regulations like GDPR and CCPA are becoming very important and Cognigo is one company that can help you achieve compliance.